Sustainability/Energy

As the conflict in the Middle East drags on and the global oil supply dwindles, the price of gas continues to hover near historic highs, with no sign of dropping before the travel-heavy summer season kicks off in earnest — or even before it winds down.

Economists at Royal Bank pin much of the blame on higher gas prices, noting that the average price of gasoline accelerated another eight per cent in April after a 21 per cent surge in March.

While slow supply chains inflate the cost of coffee, tea, and tropical fruit for Canadians, Northern retailers face even greater delays and expenses.

Gas prices are bouncing up and down this week as the outlook for the conflict in the Middle East changes quickly.

Comments come after the company reported its third-quarter results Tuesday, and reported higher year-over-year profit of US$757.2M.

Rising fuel costs have made it more expensive for manufacturers to ship out products and receive supplies, with some needing to pass on costs to their customers.

Artificial intelligence, store safety, alcohol and low-alcohol beverages, future fuels and consumer trends were among the key themes on Day 1 at the conference.

Uncertainty continues around how the attacks on Iran and Middle East instability will affect the economy.