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How the Strait of Hormuz Crisis Is Hitting Your Wallet Right Now

Published May 17, 2026  |  Category: Oil Prices & Energy  |  By MoneySavings.ca If you've winced lately at the gas pump or noticed your grocery bill creeping up, you're not imagining it. A geopolitical crisis unfolding halfway around the world — at a narrow strip of water between Iran and Oman — is directly squeezing Canadian budgets. Here's everything you need to know, and what you can do about it. What Is the Strait of Hormuz? The Strait of Hormuz is a narrow waterway just 33 kilometres wide at its tightest point, connecting the Persian Gulf to the open ocean. Despite its modest size, it is the world's single most critical energy chokepoint. Before this crisis, roughly 20 million barrels of oil moved through it every single day — about 20% of all the world's seaborne oil supply, plus significant volumes of liquefied natural gas (LNG). Think of it as the world's energy jugular vein. When it gets blocked, the entire planet feels it. What Happened? On Februa...
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Farmers' Protest Escalates as Police Clash with Marchers in India

 

Tensions flared as Indian police clashed with hundreds of farmers marching towards New Delhi to demand guaranteed crop prices. The protest, reminiscent of the 2021 demonstrations, saw tear gas and barricades deployed by authorities at the Shambhu border crossing between Punjab and Haryana.

Farmers, who began their march from Haryana and Punjab, are seeking legal guarantees for minimum support prices (MSP) for over 20 essential crops. The government's current policy protects only rice and wheat prices, leaving farmers struggling with rising cultivation costs and stagnant incomes.

The authorities have suspended internet services in some Haryana districts to hinder communication among protesters. Despite the heavy security measures, farmers remain resolute, vowing to continue their march until their demands are met.

The situation remains tense as both sides stand their ground, with farmer leaders criticizing the government's lack of progress on promises made in 2021. The farmers' determination underscores the ongoing struggle for fair agricultural policies in India.



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