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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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Ottawa Expands Automatic Tax Filing to Simplify Tax Returns


 The federal government is taking significant steps to modernize the tax filing process for Canadians. In a recent fall economic statement, Ottawa announced plans to expand automatic tax filing services, aiming to make it easier for Canadians, especially those with simple tax situations, to file their annual returns.

The initiative, which builds on a national pilot program launched in 2023, will allow the Canada Revenue Agency (CRA) to automatically file tax returns on behalf of eligible lower-income Canadians starting as early as the 2025 tax year. The program has already shown promising results, with over two million eligible Canadians participating in the pilot and receiving billions in benefits and credits.

The expansion will also explore options to make free online tax software more accessible, ensuring that more Canadians can benefit from simplified tax filing. This move is part of Ottawa's broader efforts to reduce the complexity and cost of tax filing services, making them more user-friendly and efficient.

With these changes, the government hopes to increase tax compliance and ensure that more Canadians receive the benefits and credits they are entitled to. The CRA's SimpleFile service, which allows tax returns to be filed in as little as 10 minutes, will play a crucial role in this initiative.

As Ottawa continues to push for a more streamlined tax filing process, Canadians can look forward to a simpler and more efficient way to manage their taxes in the coming years.




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