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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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Escalation in the Middle East: Israeli Airstrikes Target Iranian Military Sites



In a significant escalation of tensions in the Middle East, Israel launched a series of pre-dawn airstrikes against military sites in Iran. The Israeli Defense Forces (IDF) confirmed that the strikes targeted facilities used for missile manufacturing and other military infrastructure in Tehran, Khuzestan, and Ilam provinces.

The Iranian military reported limited damage and confirmed the deaths of two soldiers during the attacks. The strikes come amid a period of heightened violence in the region, with both nations exchanging threats and military actions.

Iran has vowed to defend itself, stating that it is “obligated and entitled to respond” to the Israeli aggression. This latest development raises concerns about the potential for a broader conflict in the already volatile region.

The international community is closely monitoring the situation, urging both sides to exercise restraint and seek diplomatic solutions to avoid further escalation.


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