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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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Differing Reactions: Mexico Shows Commitment While Canada Misreads Tariff Mandate

 

The White House has observed a stark contrast in responses to President Trump’s latest tariff order. In official remarks on Monday, senior economic adviser Kevin Hassett noted that Mexico has demonstrated a “very, very serious” approach to meeting the conditions outlined in the executive order. In contrast, Canadian officials and commentators have interpreted the tariff imposition as the start of an all-out trade war.

The tariffs—imposed on goods from Mexico, Canada, and China—are part of a broader U.S. strategy aimed at curbing illegal immigration and the flow of fentanyl into the country. Hassett stressed that while the measures are designed to pressure trading partners to address these issues, “Canadians appear to have misunderstood the plain language of the executive order,” suggesting that Canada’s reaction is disproportionate compared with Mexico’s measured response.

Mexican President Claudia Sheinbaum, for her part, has maintained a calm and pragmatic stance, indicating readiness to negotiate and implement additional steps if required. U.S. officials believe that this cooperative posture could help de-escalate tensions and set the stage for further discussions.

Critics on both sides warn that misinterpretations and overreactions could have serious economic repercussions. As the debate over tariffs continues, the administration appears keen to highlight Mexico’s commitment as a model of compliance—contrasted sharply against what it views as Canada’s excessive alarm.


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