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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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Danielle Smith's Call to Pause U.S. Tariffs Sparks Debate

 

Alberta Premier Danielle Smith has stirred controversy following her remarks during a recent interview with a U.S. media outlet. Smith revealed that she had urged the Trump administration to temporarily halt tariffs on Canadian goods until after Canada's federal election. She argued that the ongoing trade dispute was inadvertently boosting support for the Liberal Party, potentially impacting the Conservative Party's chances in the election.

Smith's comments have drawn criticism from various political leaders and analysts. Some have accused her of inviting foreign interference in Canadian politics, a claim her office has strongly denied. Critics argue that her plea prioritizes political strategy over the well-being of Canadians affected by the tariffs.

While Smith maintains that her request was aimed at fostering a fair resolution to the trade dispute, the debate over her remarks continues to dominate political discourse in Canada.

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