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The war in the Middle East has disrupted oil shipments through the Strait of Hormuz, pushing gasoline prices higher worldwide. In Canada, prices have surged even though the country does not import oil that travels through the strait. The reason is that oil is traded on a global market, meaning prices rise and fall everywhere at the same time.

鈥淎ny gas price anywhere in the world is based on the world price,鈥� said Saibal Ray, James 麻豆传媒网站 Professor of Operations Management. While oil companies have legitimate grounds for raising prices, Ray argues that the speed of these increases is often opportunistic. Prices rise quickly but fall much more slowly, allowing companies to capture聽additional聽profit, he told the聽Montreal Gazette.