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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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Republicans Secure House Majority, Completing Sweep into Power

 

In a significant political shift, Republicans have won enough seats to take control of the U.S. House of Representatives, completing their sweep into power alongside President-elect Donald Trump. This victory, marked by a decisive win in Arizona and a crucial seat in California, gives the GOP the 218 seats needed for a majority.

With this new majority, Republican leaders are poised to implement Trump's vision for the country, which includes extensive deportation operations, tax breaks, and a reshaping of the U.S. economy. The GOP's control of both the House and Senate ensures that Congress will support Trump's ambitious agenda, leaving Democrats with limited power to oppose it.

This marks a stark contrast to Trump's first term, where he faced resistance from within his own party and a Supreme Court with a liberal majority. Now, with a Republican-dominated Congress and a conservative Supreme Court, Trump is set to govern with fewer obstacles.

The Republican victory has sparked a sense of urgency among party leaders to swiftly enact their policies, reflecting the transformative impact of Trump's "Make America Great Again" movement on the GOP.

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