Mark Slapinski - Why The Iran War Is Raising Gas Prices

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

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

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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