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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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Drone Strike Ignites Blaze at Sochi Oil Depot, Russia Responds Swiftly

 

Russian authorities confirmed that a Ukrainian drone strike ignited a massive fire at an oil depot in Sochi, a resort city on the Black Sea. The attack occurred overnight and triggered a swift emergency response, with over 120 firefighters deployed to extinguish the blaze.

According to Krasnodar regional Governor Veniamin Kondratyev, the fire began when debris from a downed drone struck a fuel tank in the Adler district of Sochi. The depot, which housed a 2,000-cubic-meter fuel tank, was engulfed in flames, sending thick plumes of smoke into the sky.

No Casualties Reported

  • Sochi Mayor Andrei Proshunin stated that there were no casualties and that the situation was “completely under control”.
  • Flights at Sochi’s airport were temporarily halted by Russia’s civil aviation authority, Rosaviatsia, but resumed shortly after the fire was contained.

Escalating Drone Warfare

  • Russia’s Defense Ministry reported that its air defenses shot down 93 Ukrainian drones overnight, including one over the Krasnodar region and 60 over the Black Sea.
  • Ukrainian officials have not commented directly on the Sochi incident but have previously stated that attacks on Russian infrastructure are retaliatory measures for strikes on Ukrainian cities.

Wider Conflict Context

  • The drone strike comes amid one of the deadliest weeks in Ukraine in recent months, with Russian missile and drone attacks killing dozens and injuring hundreds.
  • U.S. President Donald Trump has set an August 8 deadline for progress in peace negotiations, threatening new sanctions if no ceasefire is reached.

This latest exchange underscores the intensifying tit-for-tat tactics in the Russia-Ukraine conflict, with strategic infrastructure increasingly targeted on both sides.


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