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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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Intensified Conflict: Airstrikes Hit Beirut as Israel Expands Gaza Operations

 

In the early hours of Thursday, several large airstrikes targeted the southern suburbs of Beirut, including a site near Lebanon’s only international airport. The Israeli military had issued an evacuation notice for the area, citing the presence of Hezbollah facilities.

Simultaneously, Israel has expanded its ground operations in northern Gaza, focusing on Beit Lahiya, a town heavily bombed since the conflict began. This escalation follows a month of intense military actions that have resulted in significant casualties on both sides.

Hezbollah’s leader, Naim Kassem, stated that the group is open to cease-fire negotiations only if Israel halts its aggression. The conflict, which started over a year ago, has seen over 3,000 deaths and thousands more injured in Lebanon alone.

The international community continues to call for a diplomatic resolution, with France’s Foreign Minister urging for immediate action towards peace. As the situation develops, the humanitarian crisis deepens, with civilians bearing the brunt of the ongoing violence.



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