Mark Slapinski - Why The Iran War Is Raising Gas Prices

The price of gas in Canada is skyrocketing, pushing some people past the point of bankruptcy. Gas prices have been on the rise since the recent war in the Middle East between the US and Iran. Gas is used to move everything around, and a lot of products are made from oil. So when the price of oil goes up, everything else goes up. Remember, when prices go up, so does the cost of everything else.

00:00:00.160 Canadians are in trouble as the price of gas skyrockets, pushing some people past the point

00:00:05.340 of bankruptcy. Canada is already in a cost of living crisis. We have high rent prices,

00:00:10.420 high grocery prices, high insurance costs, high costs for entertainment, and now add to that

00:00:16.360 an increased cost in gas. This is going to push people right off the edge. Remember,

00:00:21.480 when the price of oil goes up, everything else goes up. Gas is used to move everything around,

00:00:26.840 and a lot of products are made from oil now this recent gas spike was caused by the recent war in

00:00:32.080 iran by israel and america what happened was america and israel started bombing iran

00:00:36.980 iran retaliated by bombing oil refineries in the middle east and also they closed the important

00:00:42.640 strait of hermuz in the latest uae has shut its ruve's oil refinery after drone attack on the

00:00:48.980 industrial complex housing the facility this is the latest refinery to join the list of oil

00:00:54.560 facilities disrupted since the war began. Multiple oil facilities spread across West

00:00:59.620 Asia have halted production so far. Well, these include Saudi Arabia's Ras Tundra, UAE's

00:01:06.480 Fujairah oil terminal, Israel's Leviathan gas field, Babco refinery in Bahrain, oil

00:01:15.060 refineries and oil storage facilities in Tehran and Qatar's Ras Lifan terminal. Well, on

00:01:21.440 top of this, Iran has choked straight of foremost a critical oil supply route that allows flow of

00:01:26.680 20% of global oil trade. While CEO of Saudi oil giant Aramco has issued a warning, he said war

00:01:33.620 could have catastrophic consequences on oil markets. Many if not all of the countries in the

00:01:38.860 area have either limited their oil production or completely stopped it. Now some people have asked

00:01:43.340 why do oil disruptions in the Middle East affect prices in Canada? Well, it's a supply and demand

00:01:49.280 issue. 20% of the world's oil moves through this trade of Hormuz and on top of that with all these

00:01:54.780 oil refiners being shut down there's less available oil on the world market. So less oil and the same

00:02:01.140 demand equals higher prices. Remember food bank usage in Canada is at an all-time high and this

00:02:08.140 extra increase to gas prices is going to make everything worse and push a lot of people right

00:02:13.240 off the edge. Needless to say we're in a lot of trouble so let's see how Canadians are reacting

00:02:18.080 to this. This is a clip from the Brandon Gones show. Not good. They're very high. What's going

00:02:23.640 on over in the Middle East is not good, but it's not good for the economy either. For my mom,

00:02:28.900 she has to pay for a lot of stuff. I really like groceries for the house when I was cool. And I

00:02:33.420 have to also think about paying for your gas. It's like not really convenient all the time.

00:02:37.940 I kind of want to go back to pre-COVID days when gas was a lot cheaper. Right now at $2 a liter

00:02:43.060 just to fill for diesel is a little ridiculous. I'm sure everybody else in the city feels for it.

00:02:46.880 How much are you spending currently?

00:02:48.360 Probably $240 a week.

00:02:50.600 On average, a week is about $400.

00:02:53.300 Unusual, it would probably be like $60 to $65.

00:02:56.080 Now it's probably going to be like $75 or $80.

00:02:58.160 How is this affecting your budget?

00:02:59.600 It's really just strictly work, fill gas, go home.

00:03:03.120 Like there's not really much time or money for leisure or anything fun now.

00:03:06.020 Budget's going up.

00:03:06.980 Everything's really expensive.

00:03:08.340 So gas as well is just adding another frustration to your day.

00:03:12.180 Are you hopeful that the gas prices will go down?

00:03:14.200 Yeah, I'm very hopeful.

00:03:15.700 hopefully it does go down nobody wants to be paying that much every week for gas yeah i like

00:03:21.200 to be a glass half full type of guy so being optimistic that prices will go down it's really

00:03:25.880 sad how one man who was given everything by his father can make a decision that negatively affects

00:03:31.600 people all over the world including canada americans voted for a president that would put

00:03:36.100 america first instead he started another pointless war in the middle east and now we're all paying 0.79

00:03:42.220 for it. I'll have more to say on that later, but let's check out another video from Toronto Live.

00:04:12.220 premium in these cars it's kind of like expensive i hope that was a full tank by now i try not to

00:04:18.440 drive that much because i work in downtown but definitely gas prices impact everybody's budget

00:04:23.840 at this time so um yeah i try to take ttc as much as i can for now 76 dollars that's the cost

00:04:31.000 it's about 63 i only fill my car about once a week so still a little bit of money right

00:04:37.960 and things are tight as it is because i'm a pensioner so as you saw right there canadians

00:04:42.880 normal people like you and me are already feeling the price of the pump and it's going to get a lot

00:04:48.060 worse now of course things would be better if we spent the last 10 years drilling for more oil in

00:04:52.800 canada and canada actually took the steps to refine their own oil but nobody could have predicted this

00:04:59.260 nobody could have predicted don trump getting re-elected and then going to another war with

00:05:04.120 the middle east after all he said that he wasn't going to start any more wars and then we see he

00:05:10.280 started another war now there's a lot of people that wrongly believe that iran was going to get

00:05:14.400 a nuclear weapon and use it on america however there's no evidence to back that up donald trump's

00:05:20.580 press secretary even admitted today that iran was not a threat to the united states now i've seen

00:05:26.160 some people say they don't mind paying more for gas if it leads to regime change in iran however

00:05:31.480 recent reports suggest that the war in Iran is unlikely to lead to regime change.

00:05:36.660 On top of that, Donald Trump was elected to put America first, and I'm not sure how bombing a

00:05:42.120 Middle East country is putting America first. On top of that, how does a war in Iran help the

00:05:47.700 people in Canada that are struggling to get by? It was a rhetorical question. I know the answer,

00:05:53.640 and it doesn't. It seems like Donald Trump started another pointless illegal war in the Middle East

00:05:57.860 to distract away from the fact that he was best friends with a known pedophile 0.97

00:06:01.620 and likely abused some teenagers himself.

00:06:04.540 Hopefully Americans get the message and vote accordingly in the midterms.

00:06:08.900 Until then, talk to you next time.

Mark Slapinski - March 13, 2026

Why The Iran War Is Raising Gas Prices

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