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Gas Prices Are Spiking Again — Here's How to Protect Your Wallet as the Iran Conflict Escalates

  Published July 20, 2026 If it feels like you're filling up more often for the same money lately, you're not imagining it. Oil markets jolted higher to start the week, and Canadian drivers are almost certain to see it at the pump in the next few days. What just happened Brent crude — the global benchmark that drives Canadian gas pricing — jumped nearly 4% on Monday to trade above US$90 a barrel, its highest level since mid-June, while U.S. West Texas Intermediate traded near US$84. The move came after the United States and Iran escalated hostilities over the weekend, including strikes on vessels attempting to transit the Strait of Hormuz and an attack on an oil facility in Kuwait. That strait matters enormously to your gas bill: roughly a fifth of the world's oil supply normally passes through it. When shipping through it slows or stalls, traders price in a "risk premium" almost immediately — and that shows up at Canadian pumps within days, not weeks. What it mea...
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Israeli Tanks Advance in Rafah, Forcing Residents to Flee Again

 

In a distressing escalation of violence, Israeli tanks, backed by warplanes and drones, have penetrated deeper into the western part of the Gaza Strip city of Rafah. According to residents and Palestinian medics, eight people lost their lives in this latest incursion. The tanks moved into five neighborhoods after midnight, leaving a trail of destruction and panic among the population.

The Al-Mawasi area, further west of the coastal enclave, bore the brunt of heavy shelling and gunfire. Displaced Palestinians, who had already fled their homes due to previous Israeli strikes, sought refuge in tent camps. However, even these temporary shelters were not spared as bullets and shells rained down on them.

Despite international efforts to mediate a ceasefire, the conflict persists. Israel’s stated goal of wiping out Hamas and freeing Israeli hostages remains unmet, while Gaza continues to suffer. The Rafah crossing, the primary link for most of Gaza’s population with the outside world, lies in ruins, its buildings burnt, and Israeli tanks now positioned there.

As the situation remains dire, the world watches, hoping for an end to the violence and a path toward peace. But for now, the people of Rafah face another night of horror, caught in the crossfire of a seemingly unending conflict.

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