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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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Trudeau Announces $15 Billion Boost to Housing Program

 

Prime Minister Justin Trudeau has unveiled plans for a $15 billion increase to the Apartment Construction Loan Program (ACLP) as part of Budget 2024. This significant boost aims to construct a minimum of 30,000 new apartments across Canada.

As part of this announcement, the Prime Minister also introduced the Canada Builds program. This initiative will partner with provinces and territories to build rental housing, providing federal financing under certain conditions. These conditions include complementing federal funding with their own investments, utilizing government, non-profit, community-owned, and vacant lands, and streamlining development approval timelines to no longer than 18 months.

The Apartment Construction Loan Program, launched in 2017, has already committed over $18 billion in loans to support the creation of more than 48,000 new rental homes. With this top-up, the program’s financing is now on track to build over 131,000 new apartments within the next decade. Reforms announced alongside this boost include extending loan terms and broadening access to financing for housing aimed at students and seniors.

This move represents a significant step toward addressing Canada’s housing challenges and ensuring affordable housing options for citizens. As the country continues to grow, initiatives like the ACLP play a crucial role in meeting the housing needs of Canadians.


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