BNN Bloomberg EN

‘There is really no end in sight’: Gas prices in Toronto set to climb higher Wednesday

Gas prices in Toronto are expected to rise again Wednesday morning as the Middle East conflict rages on, and one energy analyst says there may be no limit on how much higher they could climb.

Mar 10, 2026 &03551010202631; 19:55 UTC www.bnnbloomberg.ca Trending 4/5

Read original on www.bnnbloomberg.ca ↗

↘

Negative for markets

Sentiment score: -75/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Gas prices in Toronto are expected to rise Wednesday amid escalating Middle East tensions, with energy analysts warning of potentially unlimited upside to fuel costs. The geopolitical conflict is creating supply uncertainty that could sustain elevated energy prices for an extended period.

AI CONFIDENCE

85% Very high

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

↑

Oil (WTI Crude)

CL=FCommodity

Expected to rise

Middle East conflict driving crude oil prices higher, directly impacting gasoline costs

⇅

Euro / US Dollar

EURUSDCurrency

High volatility expected

Geopolitical risk typically strengthens USD as safe-haven currency

↓

S&P 500

^GSPCIndex

Expected to decline

Rising energy costs create inflationary pressure and reduce consumer spending power

↓

FTSE MIB (Italy)

FTSEMIB.MIIndex

Expected to decline

European equities pressured by energy cost inflation and economic slowdown risks

PRICE HISTORY

Loading chart...

⚡ SUGGESTED ACTION

Consider reducing exposure to consumer discretionary and transportation stocks while increasing positions in energy producers and defensive sectors. Monitor crude oil futures closely as Middle East tensions could drive CL=F significantly higher, creating headwinds for broader equity markets.

KEY SIGNALS

Middle East geopolitical escalationSupply disruption riskInflationary pressure on consumer goodsPotential for sustained energy price elevationSafe-haven asset demand increasing

SECTORS INVOLVED

EnergyConsumer DiscretionaryTransportationUtilities

Analysis generated on Mar 11, 2026 at 00:37 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by BNN Bloomberg. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

‘There is really no end in sight’: Gas prices in Toronto set to climb higher Wednesday

RELATED INTELLIGENCE