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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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Trump and Putin Open Alaska Talks Amid Global Ceasefire Push

 

Trump-Putin Alaska Summit 2025. President Donald Trump meets with Russia's President Vladimir Putin Friday, Aug. 15, 2025, at Joint Base Elmendorf-Richardson, Alaska. 


 U.S. President Donald Trump and Russian President Vladimir Putin have begun a closely watched summit at Joint Base Elmendorf-Richardson, aiming to lay the groundwork for a potential ceasefire in the ongoing Russia-Ukraine war.

The meeting — their first face-to-face encounter since Trump’s return to the White House — comes with both high expectations and deep skepticism from global leaders. Ukrainian President Volodymyr Zelenskyy was notably excluded from the talks, a decision that has drawn concern from Kyiv and its allies.

Trump has signaled he wants “a ceasefire rapidly” and warned of “very severe consequences” if Putin refuses to agree to end hostilities. While stressing he is “not here to negotiate for Ukraine,” Trump has framed the summit as a step toward a broader meeting that could include Zelenskyy and European leaders.

For Putin, the Alaska visit offers a rare opportunity to engage on U.S. soil after years of diplomatic isolation. The Kremlin has hinted that some terms could be reached, though both sides remain far apart on key issues, including territorial control and Ukraine’s NATO ambitions.

As the talks continue behind closed doors, the world watches to see whether this high-stakes encounter will mark a turning point in the conflict — or simply set the stage for more tense diplomacy ahead.

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