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Oil Prices Spike to a 4-Year High — What It Means for Canadian Households

Rising crude prices are pushing fuel costs to levels not seen in years — with ripple effects across the Canadian economy. Replace with your featured image before publishing. From the pump to the grocery aisle, rising crude prices are reshaping household budgets across the country. Here's what's happening, why it matters, and how to protect your wallet. MoneySavings.ca Editorial · May 9, 2026 · 7 min read · 🇨🇦 Canadian Edition R E G U L A R $2.19 PER LITRE +50% 🍁 CANADIAN ENERGY PRICE IMPACT · MAY 2026 Rising crude prices are pushing fuel costs to levels not seen in years — with ripple effects across the Canadian economy. Replace with your featured image before publishing. +50% Oil Price Rise Since Conflict Began +35¢ Average Gas Price Jump Per Litre ~$500 Estimated Extra Annual Cost Per Household If you've pulled into a gas station lately and felt the urge to do a double-take at the price board, you're not alone. Oil prices have surged to their highest levels in fou...
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New Union Demands Cast Doubt on LCBO Strike Resolution

 

The tentative agreement reached between the Liquor Control Board of Ontario (LCBO) and the Ontario Public Service Employees Union (OPSEU) to end the ongoing strike is now in jeopardy. Despite initial optimism, the union has raised concerns over the LCBO’s refusal to sign a return-to-work protocol, a crucial step for the workers to resume their duties.

The strike, which began on July 5, has seen over 9,000 LCBO employees walk off the job, leading to widespread store closures across Ontario. The tentative deal, announced on July 19, included wage increases and other benefits. However, by the afternoon, the union accused the LCBO of bad faith bargaining, claiming the employer introduced new demands post-agreement.

The LCBO, on the other hand, has stated that the union’s additional demands were unexpected and should have been addressed during the initial negotiations. The board plans to file an unfair labour practice complaint against OPSEU.

As both parties return to the bargaining table, the future of the agreement remains uncertain, leaving Ontarians to face continued disruptions in liquor store services.


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