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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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Markets Hold Breath Ahead of Nvidia’s High-Stakes Earnings

 

US stock futures were largely unchanged Wednesday morning as Wall Street awaited Nvidia’s much-anticipated quarterly results — a report seen as a key test for the AI-fueled market rally.

Futures tied to the Dow Jones Industrial Average edged up 0.30% to 45,418.07, while S&P 500 and Nasdaq 100 contracts hovered near the flatline. The calm followed modest gains in the prior session, with traders reluctant to make big moves before the chipmaker’s numbers drop after the closing bell.

Investor expectations for Nvidia are sky-high, with analysts forecasting record revenue and profit for the second quarter. The company’s results will also be closely watched for the impact of US restrictions on AI chip sales to China — a policy Nvidia has warned could cost it $8 billion in quarterly revenue.

Options markets are pricing in a potential 6% swing in Nvidia’s share price — equivalent to about $260 billion in market value — once the results are released. The stock was last trading at $181.77, up 1.09% in premarket action.

Beyond Nvidia, traders are monitoring bond yields, which remain near multi-month lows, and geopolitical developments including new US tariffs on Indian goods and EU-US trade negotiations. Energy markets were steady after a sharp drop in crude prices the previous day.

With the AI trade driving much of 2025’s equity gains, Nvidia’s performance and guidance could set the tone for the remainder of the year.

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