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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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Justin Trudeau's Political Legacy: A Decade of Change


Prime Minister Justin Trudeau announced his resignation as the leader of the Liberal Party and Prime Minister of Canada, marking the end of nearly a decade in power. His tenure has been characterized by significant policy changes and initiatives that have left a lasting impact on the country.

Legalizing Cannabis: One of Trudeau's most notable achievements was the legalization of cannabis on October 17, 2018. This move not only fulfilled a major campaign promise but also sparked a new industry, with the domestic recreational market now valued in the billions.

Electoral Reform: Despite his success in many areas, Trudeau faced criticism for not fulfilling his promise of electoral reform. He had pledged that the 2015 federal election would be the last to use the first-past-the-post method, but this promise remained unfulfilled.

Reconciliation with Indigenous Peoples: Trudeau's government made significant strides in reconciliation with Indigenous communities. His administration worked to end long-term boil water advisories in First Nations communities and advanced Indigenous rights on the world stage.

Canada Child Benefit: In 2016, the Liberals launched the Canada Child Benefit, which replaced the previous system and provided more targeted support to families in need.

Climate Change Initiatives: Trudeau reaffirmed Canada's commitment to the Paris Climate Agreement and introduced a carbon tax as a measure to combat climate change. These initiatives bolstered Canada's global standing on environmental issues.

Challenges and Criticisms: Trudeau's tenure was not without its challenges. The SNC-Lavalin scandal and unfulfilled campaign promises dented his popularity. Additionally, his economic and environmental policies at times exhibited inconsistencies.

As Trudeau steps down, his legacy will be remembered for both his achievements and the challenges he faced. His tenure has undoubtedly shaped the political landscape of Canada and set a new standard for future leaders.



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