As of March 2026, average gasoline prices in Canada have risen to roughly $1.74 per litre, marking a sharp increase from $1.28 a month earlier. Driven by the ongoing Russia-Ukraine war and renewed conflicts in the Middle East, oil watchers have predicted that even if the wars were to end today, the supply disruptions could take years to end.

Spain, Ireland, Italy and Portugal have all introduced temporary tax-relief measures, while Slovenia recently became the first European Union country to introduce fuel rationing. Several hard-hit Asian economies are temporarily closing schools and requiring segments of its public sector to work from home as part of national conservation plans.

While an oil-producing nation like Canada is unlikely to experience similar supply constraints, the oil shock is exacerbating a growing cost-of-living crisis made worse by inflexible return-to-office mandates. This affects all workers, whether you work in an office or not. This is because energy demand is embedded in our daily routines. Road transport alone represents roughly 45 per cent of global oil demand, with office occupancy and business travel increasing this number. When millions of people drive to work every day, demand is effectively locked in, regardless of price volatility or supply disruptions.

Yet not all proposed “solutions” are created equal. Too often, the instinct is to focus on supply: increase production, secure imports and stabilize markets. Those responses matter, but they are slow, uncertain and often constrained by global forces beyond any single jurisdiction’s control. In an unusual alignment, both the Canadian Taxpayers Federation and certain........

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