Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

Toronto Braces for Significant Snowfall

 

Toronto, get ready to bundle up! The city is on the cusp of experiencing its most substantial snowfall of the season so far. While the accumulation won’t be overwhelming, it’s enough to create a picturesque winter wonderland.

The snow is expected to arrive on Thursday. Keep an eye out for those delicate flakes dancing down from the sky.  Up to 10 centimeters of snow could blanket parts of the Greater Toronto Area. It’s not a record-breaker, but it’s certainly a noteworthy event.

Remember, this snowfall might not be the heaviest, but it’s a gentle reminder that winter still has its grip on the city. 


 

Labels:

Comments

Post a Comment