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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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Ontario Cancels $100M Starlink Deal Amid Escalating Trade Tensions

 

Ontario Premier Doug Ford has announced the cancellation of a $100-million contract with Elon Musk’s Starlink satellite internet service, a move aimed squarely at countering U.S. tariffs on Canadian goods. The contract—signed last November as part of Ontario’s initiative to deliver high-speed internet to 15,000 remote and rural premises—will now be scrapped amid a broader decision to ban American companies from provincial contracts until the tariffs are removed. 

Ford emphatically stated on social media that Ontario “won’t do business with people hellbent on destroying our economy,” attributing the policy shift to President Trump’s tariff actions. He warned that U.S.-based businesses could lose “tens of billions of dollars” in new revenue as a result. This decisive step is just one element of Ontario’s wider strategy to respond to the escalating trade dispute, which has already seen retaliatory tariffs imposed by both Canada and the United States. 

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