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The US–Iran War Is Hitting Your Wallet: What Every Canadian Needs to Know Right Now

  A conflict thousands of kilometres away has quietly become one of the biggest threats to your household budget in 2026. The war between the United States, Israel, and Iran — now stretching into its third month — is reshaping global energy markets, and Canadians are paying the price at the pump, the grocery store, and everywhere in between. $2.03 Gas/litre in parts of Canada +51¢ Average gas rise since Feb. 28 +30% Canada gas price rise Mar–Apr 20% World oil supply disrupted How We Got Here: The Strait of Hormuz Is Closed On February 28, 2026, the United States and Israel launched coordinated airstrikes against Iran in what was dubbed Operation Epic Fury , targeting military facilities, nuclear sites, and key Iranian leadership — resulting in the death of Supreme Leader Ali Khamenei. Iran's response was swift and punishing: missile barrages on Israeli cities, US military bases across the Gulf, and the formal closure of the Strait of Hormuz to international shipping. The Strait of ...
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Flair Airlines Ordered to Pay $67 Million in Unpaid Taxes by Federal Government

                                                                                      

Documents show Flair Airlines, a Canadian budget airline, has been ordered by the federal government to pay $67.2 million in unpaid taxes. The money owed is related to import duties on the 20 Boeing 737 Max jetliners that make up the airline’s fleet. Court documents reveal that the Canada Revenue Agency has obtained an order for the seizure and sale of the carrier’s property.

Flair Airlines CEO Stephen Jones has stated that the company has a deal with the Canada Revenue Agency to pay the taxes and is current with that plan. The Federal Court order obtained by the tax agency in November has no impact on the carrier’s operations, which have expanded over the past year and ramped up competition with rival airlines.

The airline has been in the news recently for its legal battles with leasing manager Airborne Capital and three other leasing firms. Flair Airlines launched a $50-million court action against the four companies, arguing that ongoing demands for payment from the four companies were “baseless”.


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