NEWS

More pain at the pumps in Montreal

01/05/2012 08:12 EST | Updated 03/06/2012 05:12 EST

Motorists got a shock at the pumps as they pulled in to fill up Thursday morning.

The price of gas at most stations in Montreal jumped nearly 12 cent a litre overnight, hitting $1.374 on the island.

Oil prices have been slowly crawling up and hovered just below $103 US a barrel on Thursday morning.

According to analysts, uncertainty in the Middle East, and Iran in particular, is to blame for the rising price.

Iran is threatening to shut down the international Strait of Hormuz, a vital Persian Gulf waterway that carries one-sixth of the world's oil supply.

Tensions rose earlier this week when the U.S. brushed off a warning from Iranian officials, who said American vessels weren’t welcome in the Gulf.

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