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Gas Is Still $1.81 a Litre: Why Pump Prices Won't Fall (and What to Do Before Winter)

  Canadians hoping for relief at the pump got bad news heading into this week: it isn't coming soon. The national average for regular gas was $1.81 a litre on Friday, according to Kalibrate, with provincial averages ranging from $1.557 in Alberta to $2.156 in Newfoundland, per GasBuddy. That's after a big policy move. On Friday the G7 announced plans to release 100 million barrels of oil right away, starting with diesel. Brent crude dipped on the news, then climbed back to about US$102 a barrel by the afternoon. Don't expect the release to show up at your station, because crude is only half the story. Crude oil explains only half your pump price Wood Mackenzie's Jim Mitchell says crude makes up 50 to 60 per cent of the retail price of gas. The rest is the cost of refining it, and that's where the squeeze is. Bank of Canada Governor Tiff Macklem pointed to damaged refining capacity worldwide in a Sept. 21 speech, noting that pump prices reflect crude roughly US$40 a ...
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Escalating Tensions: Israeli Airstrike Hits Gaza Hospital, Killing Five

 

In a tragic incident, an Israeli airstrike targeted a tent within the Al-Aqsa Hospital compound in central Gaza, resulting in the deaths of at least five people. This strike, which occurred on Sunday, also left 18 others wounded and brought the total number of Palestinians killed that day to 19.

The Israeli military stated that the airstrike was aimed at a militant involved in terror activities, and secondary explosions indicated the presence of weaponry in the area. The hospital compound, located in the Deir Al-Balah area, is currently sheltering thousands of people displaced by ongoing conflicts.

This incident follows a series of failed diplomatic efforts in Cairo, where talks aimed at negotiating a ceasefire between Israel and Hamas ended without progress. The situation remains tense, with both sides bracing for further escalation.


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