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

North Korea Tests Missiles Ahead of Trump’s Asia Visit

People watch a news report on North Korea firing short-range ballistic missiles at a railway station in Seoul, South Korea


North Korea launched multiple short-range ballistic missiles early Wednesday, just days before U.S. President Donald Trump and other world leaders are set to arrive in South Korea for the Asia-Pacific Economic Cooperation (APEC) summit.

South Korea’s Joint Chiefs of Staff reported that the missiles were fired from an area south of Pyongyang and traveled roughly 350 kilometers northeast. It marked Pyongyang’s first ballistic missile test in five months, underscoring ongoing tensions on the Korean Peninsula.

The timing of the launch appears deliberate, coming ahead of Trump’s scheduled meetings with South Korean President Lee Jae Myung and Chinese President Xi Jinping. Analysts suggest the move may be aimed at drawing international attention and signaling defiance of United Nations Security Council resolutions that ban North Korea’s ballistic missile program.

Regional governments, including Japan and South Korea, have condemned the launches, calling them destabilizing acts that threaten peace and security in East Asia.

As world leaders prepare to gather in Seoul, the missile tests serve as a stark reminder of the challenges facing diplomatic efforts to reduce tensions with Pyongyang.


Labels:

Comments

Post a Comment