(Image Credit: Curtis Goodrum / CFJC Today)

By Curtis Goodrum

GAS PRICE INCREASES

Analysts say Kamloops gas prices could increase 10-to-15 cents over the next week

Mar 3, 2026 | 4:55 PM

KAMLOOPS – Twenty million barrels of oil are shipped through the Strait of Hormuz every day, but that flow has been halted with Iran pledging to attack ships trying to get through. As a result, fuel prices around the world are beginning to increase.

Gas prices at stations around the Kamloops region have already shot up by nearly 10 cents a litre since yesterday. That figure is set to increase even more over the next few days.

“We are estimating an additional (increase of) 10-to-15 cents per litre sometime between now and the next 7-to-10 days – barring any de-escalation in the situation. There are so many variables that could change in a conflict. We don’t know what any of those variables could be until they’ve actually happened,” said Matt McClain, an analyst at GasBuddy says.

Iran has made strikes on oil refineries throughout the Middle East, and while there is oil in Canada, it is more expensive to refine. Analysts say even if tensions were to ease, prices tomorrow would not see an immediate decrease at the pumps.

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“It would take a little bit of time to unravel the tension inside the market and the wholesale gasoline price, before prices would just suddenly return to where they were. We’re also faced with the springtime gas increases that usually plateau around March,” said McClain.

Those worried about potential increases can improve fuel efficiency in many different ways, including getting rid of or limiting excess weight in vehicles, driving smoothly and making sure tires are pumped up.

“One thing that you could help is not driving so fast. In Canada and America, we tend to get a little heavy on the accelerator and speed just a touch. That will cost fuel efficiency,” said McClain.