Mr. Speaker, the Conservatives appear to have omitted the basic fact of why oil prices have spiked, and that is that we have a conflict in the Middle East, in Iran. The Strait of Hormuz is presently closed, taking 20% of global oil capacity off of the market. Canada, for its part, has reduced the price of fuel by reducing taxes by 28ยข over the last year.
In the House of Commons on May 6th, 2026. See this statement in context.