|  Gas getting more expensive as oil prices spike The Iran war is showing no end in sight, and that’s rattled global financial and commodities markets — including oil. Iran effectively closed the Strait of Hormuz this week by threatening virtually all ships from passing through the narrow choke point, and cutting off access to the Persian Gulf. This means about 20 per cent of the world’s oil supply is in jeopardy. As of Friday, the price for a barrel of oil was nearing US$90, and it was about $64 the week before, which means gas prices have also shot up. CAA says the national gas price is hovering around $1.45 per litre, and that’s up from about $1.31 a week earlier. Read more about how much higher gas prices could go.  Fast food taking a bigger bite out of wallets Fast food use to be the one of the most economical option for eating out, but that may not be the case anymore for many cost-conscious consumers in Canada. A&W told its investors on Thursday that sales were up nationally, despite affordability challenges plaguing Canadians and causing many to cut back on eating out. The spike in sales was fuelled, in large part, by a consumer focus on value deals, CEO Susan Senecal said in a statement. Experts say it likely reflects a bigger trend of people looking to stretch their dollars as food prices — including at many fast food chains — increase. Higher food prices can also be leading to a “downturn diet.” "Unfortunately, diet is the first thing to go when you have to try and find ways to save money. And so that economy-size bag of Doritos is going to beat out fruits and vegetables," Concordia University economist Moshe Lander said. "We're not only seeing a downturn diet, but the interesting thing, too, is the way that shrinkflation has been changing people's diets." Read more about what’s driving up prices on fast food menus.  ‘Buy Canadian’ – but at what cost? The Buy Canadian consumer movement has really picked up steam over the past year amid the trade war and U.S. tariffs, but the federal government’s own “Buy Canadian” policy could come at a hefty cost to taxpayers. A study released by the Montreal Economic Institute estimates the federal government's "Buy Canadian" policy could increase the cost of large infrastructure projects by billions per year. The policy, according to Ottawa, “strengthens Canada's industrial capacity, supports domestic workers and businesses, and positions Canada to compete more effectively in global markets, now and for the long term." According to the study, this policy would create “a form of bid preference, whereby Canadian supplier are treated as being cheaper for the purpose of evaluating their bids.,” and adds this amounts to a form of “procurement protectionism,” which will wind up costing taxpayers. Read more about how much this policy could wind up costing. | 
0 Komentar untuk "Money123: The ‘downturn diet,’ and oil prices spike "