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Oil Prices Are Spiking — Here's What It Means for Your Gas Tank and Grocery Bill

  Published July 17, 2026 Crude oil is trading near one-month highs this week, and if you've filled up your tank recently, you've probably already felt it. The culprit: an escalating conflict in the Middle East that's disrupting one of the world's most important oil shipping routes — and it's starting to show up at Canadian pumps and, eventually, on grocery store shelves. What's happening with oil prices West Texas Intermediate (WTI), the North American benchmark, has been trading around the $79–$80 per barrel range this week — up roughly 5% over the past month. Brent crude, the global benchmark that matters more for what Canadians pay at the pump, has been hovering near $85 per barrel, also near a one-month high. The spike traces back to renewed fighting between the U.S. and Iran. The U.S. reimposed a naval blockade on Iran and has intensified strikes, while Iran has responded with attacks on U.S. bases and threats to disrupt regional energy shipments further. ...
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Drug shortages in Canada affect millions of patients and health care providers

 

  

Many Canadians have experienced the frustration and anxiety of not being able to get the medications they need, as the country faces a persistent and worsening problem of drug shortages.

According to a survey commissioned by the Canadian Pharmacists Association, one in four adults in Canada has either personally been affected by drug shortages in the last three years or knows someone who has. The survey also found that 70% of pharmacists have difficulty finding alternative drugs for their patients.

The causes of drug shortages are complex and varied, ranging from manufacturing issues, supply chain disruptions, regulatory hurdles, market decisions by pharmaceutical companies, and increased demand for certain drugs due to the COVID-19 pandemic.

Some of the drugs that have been in short supply include Lenoltec No. 4, a painkiller containing codeine; Ozempic, a widely-used drug for type 2 diabetes; EpiPens, which are essential for people with life-threatening allergies; Wellbutrin, a popular antidepressant; and various blood pressure medications.

Drug shortages can have serious consequences for patients and health care providers, such as increased costs, reduced quality of care, delayed or cancelled treatments, adverse reactions, medication errors, and psychological distress.

Health Canada has said it is aware of the issue and working to find solutions, such as facilitating the importation of foreign drugs, monitoring the supply situation, and collaborating with stakeholders. However, some experts have called for more action, such as investing in domestic production capacity, creating a national drug agency, and implementing mandatory reporting of drug shortages by manufacturers.

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