Montreal: Fuel prices in Montreal have seen a significant decrease following the announcement of a ceasefire between the United States and Iran. According to reports released on Friday, petrol prices in the city have dropped below the $2 per litre mark for the first time in recent weeks. Data from GasBuddy indicates that prices have fallen to approximately $1.88 per litre in several areas. Just this past Thursday morning, pumps at stations on Decarie Boulevard were recording prices as high as $2.01 per litre.
The two-week ceasefire agreement was contingent upon Iran reopening the Strait of Hormuz to international shipping. While the strait was initially reopened, Iran closed the vital waterway again on Wednesday in protest against Israeli airstrikes in Lebanon. Currently, there is widespread uncertainty regarding how long this ceasefire will hold and whether these lower fuel prices will be sustainable given the renewed tensions at the strait.
