Gas Prices in Quebec: A Looming Increase Following Trump’s Iran Remarks

Thursday, April 2, 2026 – The recent declaration by Donald Trump, promising a strong response to Iran in the coming weeks, is poised to directly impact gas prices across Quebec. Dan McTeague, President of Canadians for Affordable Energy, provides insight into what motorists can expect.

Short-Term Fluctuations: A Brief Respite Followed by a Surge

“Friday will be the best day to fill up, with a decrease of 5 cents per litre, but prices will jump 6 to 7 cents on Saturday,” McTeague predicts. Initially, the price of regular gasoline in Montreal was expected to fall to around $1.88 per litre starting Friday and remain stable throughout the weekend. However, following the U.S. President’s address on Wednesday evening, Montreal drivers are now bracing for prices around $2.00 per litre from Saturday to Tuesday.

“With the U.S. stock markets closed for Easter on Friday, prices will likely stabilize from Saturday onwards,” McTeague explains. Unfortunately, truck owners won’t find relief, as diesel prices are set to increase by 19 cents on Saturday, following a slight dip the previous day.

Psychological Pricing and Retail Margins

Some Montreal gas stations, after briefly displaying prices at $2.00 per litre, have adjusted to $1.999. This is a common tactic to present fuel just below the psychological barrier of $2.00, according to McTeague. “Retailers can play with their profit margins,” he notes. As of Thursday morning, the average price at the pump in the Montreal region was $1.972, with a projected margin of 6.8 cents.

Regional Disparities: Finding Savings Outside Montreal

Stations in other parts of the province, such as those in Saint-Liboire along Highway 20, are offering regular gasoline at $1.738 per litre. This represents a savings of approximately 25 cents for Montreal residents who commute and fill up at these traditionally cheaper locations.

Global Economic Concerns and Rising Oil Prices

Trump’s assertive tone has also reignited concerns among economists worldwide. As of Thursday midday, WTI crude oil was up 12.54%, reaching $111.27 USD, while Brent crude climbed 7.49%. Analysts anticipate oil prices could rise to between $130 and $140 per barrel if the conflict persists for several weeks. The historical peak of $147 per barrel was reached in both London and New York in 2008.

The Approaching Summer Blend and Further Price Increases

Adding to the pressure, the switch to summer-blend gasoline is imminent, automatically increasing costs at the pump. “Prices could easily reach $2.10 to $2.15 per litre by mid-April,” estimates McTeague. This would bring Quebec close to its record of $2.17 per litre, reached in 2022.

Stay informed and prepared for fluctuating gas prices in Quebec. Monitoring price trends and considering alternative fueling locations can help mitigate the impact on your wallet.

Source: Reuters – Commodities