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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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Hope Amid Ruins: Israel and Hamas Agree to Ceasefire and Hostage Deal

 

A person wearing a mask depicting Donald Trump waves an Israeli flag as people celebrate after the US president announced that Israel and Hamas agreed on the first phase of a Gaza ceasefire, at 'Hostages Square', in Tel Aviv.


After more than two years of devastating conflict, Israel and Hamas have reached a landmark ceasefire and hostage release agreement, hailed as the first step toward ending the war that has claimed tens of thousands of lives.

The deal, brokered through indirect negotiations in Egypt and backed by international mediators including the United States and Qatar, outlines a phased process. Hamas has agreed to release the remaining Israeli hostages—around 20 believed to be alive—within 72 hours of the agreement’s ratification, in exchange for nearly 2,000 Palestinian prisoners held in Israeli jails.

Israeli Prime Minister Benjamin Netanyahu confirmed that his cabinet would convene to approve the deal, while the Israeli army has begun preparing to withdraw troops from parts of Gaza in line with the agreement. The ceasefire is expected to take effect immediately after government approval, with humanitarian aid convoys poised to enter Gaza, where the UN has declared famine conditions.

The announcement sparked emotional scenes across the region. In Tel Aviv, families of hostages gathered in Hostages Square, waving flags and holding photos of loved ones. In Gaza, displaced residents expressed cautious relief, though many remain wary after previous ceasefires collapsed.

While the agreement is being celebrated as a breakthrough, questions remain about its durability. The deal forms only the first phase of a broader 20-point peace plan, which envisions Hamas disarmament, Israeli withdrawal from Gaza, and the establishment of a transitional governing authority.

For now, the ceasefire offers a fragile but vital pause in a war that has left deep scars on both sides. Whether it can pave the way to lasting peace remains uncertain, but for families awaiting the return of loved ones, it marks a long-awaited glimmer of hope.


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