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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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Putin Warns Ukraine: Diplomacy or Force Will Decide War’s End

 

Russian President Vladimir Putin gestures during a press conference, at the end of his visit to China


Russian President Vladimir Putin has told Kyiv there is still a chance to end the war in Ukraine through negotiations — but warned that if diplomacy fails, Russia will achieve its objectives “by force of arms”. Speaking in Beijing at the close of a state visit, Putin said he saw “a certain light at the end of the tunnel,” citing what he described as sincere efforts by the United States to broker a settlement.

Despite signalling a preference for talks, Putin made clear that Moscow’s core demands remain unchanged: Ukraine must abandon any plans to join NATO, address what Russia calls discrimination against Russian speakers, and accept Russian control over at least the Donbas region.

Putin said he was open to meeting Ukrainian President Volodymyr Zelenskyy — but only in Moscow, and only if the meeting was thoroughly prepared and produced tangible results. Kyiv has rejected Moscow as a venue, calling the proposal “unacceptable.”

Zelenskyy continues to push for direct talks, urging Washington to impose further sanctions on Russia if Putin refuses meaningful dialogue. Meanwhile, the conflict — now in its fourth year — shows no sign of slowing, with both sides carrying out fresh strikes on infrastructure and energy facilities.


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