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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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U.S. Aid Agency to Trim Workforce to Under 300 Amid Radical Overhaul

 

In a dramatic shakeup that has rattled the international development community, the Trump administration announced sweeping plans to reduce the U.S. Agency for International Development’s (USAID) workforce from over 10,000 employees to fewer than 300. Most staff members—including thousands stationed overseas—have been placed on administrative leave, with only a small core of personnel retained to manage essential, mission-critical programs.

The controversial downsizing is being driven by a broader effort led by President Donald Trump and his ally Elon Musk’s Department of Government Efficiency (DOGE) to cut what they describe as wasteful spending on foreign aid. According to officials, the remaining team will focus solely on high-priority functions such as health, humanitarian assistance, and global crisis response.

The move has already sparked legal challenges. Federal workers’ unions, including the American Foreign Service Association and the American Federation of Government Employees, have filed lawsuits claiming that the abrupt curtailment of USAID violates congressional mandates and could precipitate a global humanitarian crisis by halting critical aid programs in more than 130 countries.

Critics warn that dismantling a cornerstone of U.S. foreign assistance may not only disrupt lifesaving projects—from HIV/AIDS treatment to emergency disaster relief—but also diminish America’s soft power on the global stage. As the administration contemplates merging USAID’s remaining operations with the State Department under acting administrator Marco Rubio, questions abound over the long-term implications for U.S. influence and international development efforts.

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