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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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Court Battle Aims to Reopen Parliament Amid Prorogation Crisis

A novel legal challenge has hit the Federal Court as opponents seek to force MPs back to work before Prime Minister Justin Trudeau’s prorogation period ends. Filed by the Calgary-based Justice Centre for Constitutional Freedoms on February 13, 2025, the suit argues that suspending parliamentary business until late March undermines democracy by preventing legislators from addressing urgent issues—including the looming U.S. tariff threat and stalled legislation like the capital gains tax reform.

Critics claim the prorogation was a politically motivated tactic designed to delay accountability during a turbulent period. They assert that Parliament’s essential role—to debate policy and hold the government to account—is compromised when the House sits on hiatus. With the hearing scheduled for later this week, legal experts say the outcome could set an important precedent on the limits of executive power and parliamentary rights.

As Canada navigates political uncertainty amid a leadership transition, the challenge highlights growing calls for transparency and a more robust system of checks and balances.


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