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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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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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