Oil inventories are at historic lows. Demand is strong. The price keeps dropping. Dan McTeague says the futures market is being driven by headlines, not reality, and the pain at the pump is far from over.

Dan breaks down why a litre of diesel costs forty cents more in Ontario than Alberta, why the weak loonie adds roughly forty cents a litre regardless of where crude is trading, and why provincial tax relief is
largely being cancelled out by HST windfalls governments are quietly collecting on higher prices.

The deeper problem is supply. Dan puts the net loss at fifteen to sixteen million barrels a day, with emergency reserves already eighty percent drawn down. Even if the Strait of Hormuz opened tomorrow, he says, prices would not return to pre-crisis levels for several months at minimum.

Topics: gas prices Canada, oil supply crisis, Canadian dollar fuel costs, fuel tax relief, Strait of Hormuz

GUEST: Dan McTeague | http://affordableenergy.ca

Originally aired on 2026-06-03

Oil inventories are at historic lows. Demand is strong. The price keeps dropping. Dan McTeague says the futures market is being driven by headlines, not reality, and the pain at the pump is far from over.
Dan breaks down why a litre of diesel costs forty cents more in Ontario than Alberta, why the weak loonie adds roughly forty cents a litre regardless of where crude is trading, and why provincial tax relief is largely being cancelled out by HST windfalls governments are quietly collecting on higher prices.
The deeper problem is supply. Dan puts the net loss at fifteen to sixteen million barrels a day, with emergency reserves already eighty percent drawn down. Even if the Strait of Hormuz opened tomorrow, he says, prices would not return to pre-crisis levels for several months at minimum.
Topics: gas prices Canada, oil supply crisis, Canadian dollar fuel costs, fuel tax relief, Strait of Hormuz
GUEST: Dan McTeague |<a href="http://affordableenergy.ca"> http://affordableenergy.ca</a>
Originally aired on&nbsp;2026-06-03

Shane Hewitt & The Nightshift is your late-night companion for real talk, bold ideas, and unfiltered conversations that matter. Hosted by Canadian radio veteran Shane Hewitt, each episode dives into the headlines, human stories, and hidden truths shaping our world—always with curiosity, compassion, and a sharp edge.

From politics and pop culture to mental health, technology, and everyday life, this podcast is where night owls, deep thinkers, and curious minds come to connect. Featuring expert guests, passionate callers, and Shane’s signature style—thoughtful, fearless, and refreshingly real.

If you crave meaningful dialogue, smart perspectives, and late-night radio energy in podcast form, subscribe now and join The Nightshift.

Shane Hewitt &amp; The Nightshift is your late-night companion for real talk, bold ideas, and unfiltered conversations that matter. Hosted by Canadian radio veteran Shane Hewitt, each episode dives into the headlines, human stories, and hidden truths shaping our world&mdash;always with curiosity, compassion, and a sharp edge.
From politics and pop culture to mental health, technology, and everyday life, this podcast is where night owls, deep thinkers, and curious minds come to connect. Featuring expert guests, passionate callers, and Shane&rsquo;s signature style&mdash;thoughtful, fearless, and refreshingly real.
If you crave meaningful dialogue, smart perspectives, and late-night radio energy in podcast form, subscribe now and join The Nightshift.

Shane Hewitt and The Nightshift

Shane Hewitt is known for his engaging and relatable on-air personality, which captivates listeners. His ability to blend insightful commentary with humour and empathy creates a genuine connection with listeners.  Shane Hewitt and the Night Shift provides relatable content, informative discussions and expert insights – along with a balance of anecdotes and entertainment.

Shane Hewitt is known for his engaging and relatable on-air personality, which captivates listeners. His ability to blend insightful commentary with humour and empathy creates a genuine connection with listeners.  Shane Hewitt and the Night Shift provides relatable content, informative discussions and expert insights – along with a balance of anecdotes and entertainment.