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Gas Prices Are Finally Falling in Canada — Here's How Much You're Saving and What Comes Next

After weeks of painful price spikes driven by the U.S.-Iran conflict, Canadians are finally catching a break at the pump. The national average gas price dropped to 169.1 cents per litre on Monday, April 20 — down from a peak near 198 cents — as two things happened at once: Iran reopened the Strait of Hormuz to commercial traffic, and Prime Minister Mark Carney's federal fuel excise tax suspension came into effect. National Average 169.1¢/L ▼ Down from ~198¢/L peak Gas savings (excise tax) 10¢/L off gasoline until Sept. 7 Diesel savings 4¢/L off diesel until Sept. 7 WTI Crude (current) ~$87 ▼ Down from $120 peak What just happened — and why Since the U.S.-Iran conflict began in late February, Brent crude surged more than 55%, briefly topping $120 a barrel — the largest oil supply shock in the history of global markets, according to the Interna...
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Canada Adds Fewer Jobs Than Expected in October; Unemployment Rate Holds Steady

 

Canada’s job market showed signs of slowing down in October, as the country added fewer jobs than anticipated. According to Statistics Canada, the national unemployment rate remained unchanged at 6.5%.

The economy saw a modest increase of 15,000 jobs last month, falling short of economists’ expectations. This modest gain reflects ongoing challenges in the labor market, influenced by high interest rates and economic uncertainties.

Despite the job additions, the unemployment rate held steady, indicating that the labor market is still grappling with balancing job creation and economic pressures. The Bank of Canada has been closely monitoring these trends, especially as it aims to foster economic growth following recent interest rate cuts.

As the country navigates these economic conditions, the focus remains on creating sustainable employment opportunities and supporting workforce stability.


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