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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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CPA Canada lays off 80 staff amid provincial divisions

 

CPA Canada, the national organization that represents chartered professional accountants across the country, has announced that it is cutting 20% of its workforce, or about 80 staff, as it faces a challenging operating environment.

The decision comes as two of the largest provincial oversight bodies, CPA Ontario and the Quebec CPA Order, are preparing to leave CPA Canada by the end of this year, following a disagreement over governance and financial issues.

CPA Canada president and CEO Pamela Steer said in a memo to staff last week that the organization had to streamline its operations “in order to position CPA Canada for long-term sustainability.”

She said that despite many discussions and efforts, it was clear that Ontario and Quebec would not change their current path, which means they will exit the national agreement that was signed in 2013 to unify the various professional accounting organizations and designations.

The split will have significant implications for the accounting profession in Canada, as CPA Canada is responsible for setting standards, coordinating education and exams, and advocating for the public interest, while the regional organizations are responsible for regulation and enforcement.

Both CPA Ontario and the Quebec CPA Order have said that their departure will not undo the unification of the profession, but rather allow them to focus on their own members and stakeholders.

However, CPA Canada has said that their decision puts the profession at risk of fragmentation and inconsistency, and undermines the credibility and reputation of the CPA designation.

The two provincial groups have cited concerns about CPA Canada’s financial transparency regarding education programs, which the national body has disputed. They have also sought stronger representation on the national board, which CPA Canada has said would compromise its independence and accountability.

CPA Canada said it will continue to work with the remaining provincial and territorial bodies to ensure the delivery of high-quality services and programs for its members and the profession. It also said it will explore new opportunities and partnerships to advance the CPA brand and the public interest.

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