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

Israel Launches Gaza City Offensive Amid Famine and Global Outcry

                                   Displaced Palestinians flee from one area to another in Gaza City on Friday. 

The Israeli military has declared Gaza City a “dangerous combat zone” and confirmed it has begun the initial stages of a long-anticipated offensive on the war-ravaged enclave’s largest urban center. The move ends daily humanitarian pauses that had allowed limited aid deliveries, intensifying fears for hundreds of thousands of displaced residents already enduring famine conditions.

Military spokesperson Avichay Adraee said forces are operating “with great force” on the city’s outskirts, vowing to dismantle Hamas and secure the release of remaining hostages. Israel also announced the recovery of two hostages’ remains, including Ilan Weiss, killed during the October 7, 2023 Hamas-led attack.

The United Nations and aid agencies have condemned the escalation, warning of catastrophic humanitarian consequences as food shortages worsen and medical facilities face collapse. Despite mounting international pressure, Israeli leaders insist the operation is essential to neutralize Hamas’ stronghold in Gaza City.


Labels:

Comments

Post a Comment