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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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Escalating Conflict: Israel’s Gaza Strikes Intensify Amid Northern Pleas for Aid

 

The conflict between Israel and Gaza has reached a critical point as Israeli forces launched a series of deadly airstrikes on the Gaza Strip. These strikes have resulted in significant casualties, with at least 20 people killed on Wednesday alone. This follows one of the deadliest single strikes of the ongoing conflict, which claimed the lives of scores of individuals in northern Gaza.

The northern regions of Gaza, particularly Beit Lahiya, have been heavily impacted. On Tuesday, a Israeli airstrike on a residential building in Beit Lahiya killed at least 93 people, including 25 children2. The attack has drawn international condemnation, with the United States describing it as “horrifying” and calling for an explanation from Israel.

The humanitarian situation in northern Gaza is dire, with over 100,000 people trapped without access to essential supplies such as food and water. Rescue efforts are hampered by ongoing military operations, leaving many civilians buried under rubble and in desperate need of assistance.

As the conflict escalates, the international community continues to call for a ceasefire and increased humanitarian aid to the affected regions. The situation remains fluid, with both sides experiencing significant losses and the civilian population bearing the brunt of the violence.


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