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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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Ontario PCs Unveil $40-Billion Platform, Promise to Eliminate Alcohol Floor Price

Ontario's Progressive Conservatives, led by Doug Ford, have unveiled a campaign platform promising up to $40 billion in new spending. This announcement comes just three days before the provincial election. The platform includes several previously unannounced measures, such as a $5-billion Protect Ontario Account to counter potential U.S. tariffs, $705 million to expand STEM and skilled trades training at post-secondary institutions, and $50 million to support modular housing technology.

One of the most notable promises is the proposal to eliminate the minimum retail price for liquor. Currently, the minimum price for a 750-millilitre bottle of vodka is set to rise to $31.15 this weekend. Ford argues that removing the floor price will save consumers money and put more money back into their pockets, likening it to a tax break.

The platform, however, does not include a full costing breakdown of how these promises will be funded. Ford defended the absence of detailed cost estimates by citing his government's track record of fiscal responsibility over the past seven years.

As the election day approaches, voters will have to weigh these ambitious promises against the potential impact on the province's budget and economic stability.


: [Source 1](https://www.msn.com/en-ca/news/canada/ontario-pcs-make-40b-in-platform-promises-pledge-to-axe-floor-price-for-alcohol/ar-AA1zEG0C)

: [Source 2](https://ca.news.yahoo.com/doug-fords-pcs-promise-40b-174158783.html)

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