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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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TSX Soars to 18-Month Peak Before Holiday Season

As investors head into the Christmas break, the Toronto Stock Exchange (TSX) has reached an 18-month high, signaling a robust end to the year for Canadian markets. This surge reflects a growing optimism among traders, buoyed by positive economic indicators and a festive boost in market activity.

Key Highlights:

  • Market Rally: The TSX’s climb to an 18-month high is part of a broader rally, with investors showing increased confidence in the financial markets.
  • Economic Optimism: The rise is attributed to favorable economic reports, suggesting a resilient economy despite global uncertainties.
  • Investor Sentiment: The holiday season often brings a wave of goodwill, which seems to have spilled over into the financial sector, with traders pushing for a strong close to the year.
  • Looking Ahead: As the year winds down, all eyes will be on the TSX to see if this upward trend will set the tone for the coming year.

This milestone is a testament to the resilience of the Canadian economy and the bullish sentiment that prevails among investors as they look forward to a prosperous new year. 

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