Gas prices may not return to pre-Iran war levels anytime soon, experts say (opens original article in a new tab)

Experts say gas prices may not return to pre-Iran war levels soon due to ongoing supply chain disruptions and physical damage in the Persian Gulf region.

• A peace deal between the US and Iran has been reached, but oil supply chains remain disrupted.
• Gas prices in Canada are expected to drop 10-15 cents per litre but will remain elevated for months.
• Reopening the Strait of Hormuz is necessary for oil to flow, but physical damage and rebuilding will delay full normalization.