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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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Your daily horoscope: October 18, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

An issue that never bothered you much in the past will become more important to you over the coming 12 months. As you get more involved you will meet people who share your values and together you can create a community that changes the world.

ARIES (March 21 - April 20):

If you are serious about turning your ideas into realities then you must stop wasting time on people and activities that distract you from pursuing your goals. Yes, if you can imagine it you can do it, but you still need to manage your time wisely.

TAURUS (April 21 - May 21):

You are more sensitive than most people realize and yesterday’s eclipse is likely to have left you feeling a bit fragile. Give yourself time to rest today and then make the most of the weekend, by which time you should be back to your best.

GEMINI (May 22 - June 21):

Because you get bored easily you find it hard to focus on one thing at a time, and that’s okay, but if you chase after too many goals it is inevitable that your efforts will fall short of the mark. Limit yourself to just two objectives today.

CANCER (June 22 - July 23):

The best way to approach a work-related problem is to pretend that it is no problem at all. Yesterday’s eclipse may have shaken things up a bit but as the dust settles you will realize that things are still pretty much the same as they were before.

LEO (July 24 - Aug. 23):

If you give your imagination permission to roam you will come up with some really good ideas today, and one idea in particular could be a real money-spinner if you are prepared to get serious about it. Think long-term but act immediately.

VIRGO (Aug. 24 - Sept. 23):

If something good happens today, and almost certainly it will, don’t waste time trying to work out why you have been so fortunate. If Lady Luck makes an effort to smile on you the least you can do is make an effort to enjoy it.


LIBRA (Sept. 24 - Oct. 23):

What a friend or loved one suggests you do together today may not inspire you much but if you are smart you will do it anyway. Yesterday’s lunar eclipse may have upset one-to-one relationships a bit but it won’t take much to heal the wounds.

SCORPIO (Oct. 24 - Nov. 22):

The planets are urging you to commit yourself to a cause or movement that you feel passionate about. Don’t just stand on the sidelines making negative comments – get directly involved and be one of the few who make a difference in the world.

SAGITTARIUS (Nov. 23 - Dec. 21):

Make a serious effort to understand something that up until now has left you baffled. Once one bit of the puzzle makes sense it won’t be long before you are able to join the dots and see the bigger picture – and it’s a very nice picture indeed.

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