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

Tragedy in the Aegean: Migrant Boat Sinks Off Turkey, 14 Dead

Health workers stand next to a body bag as members of the Coast Guard Command conduct a search and rescue operation after a migrant boat sank off the coast of Bodrum, in western Mugla province.

At least 14 people lost their lives after a rubber boat carrying migrants sank off the coast of Bodrum in Turkey’s western Mugla province early Friday morning. Authorities reported that the vessel, carrying 18 people, began taking on water shortly after departure and quickly went under.

An Afghan survivor managed to swim back to shore and alerted emergency services around 1 a.m., prompting a large-scale search and rescue operation. A second survivor was later found on Celebi Island, while coast guard teams recovered the bodies of 14 victims from the sea.

The Aegean Sea remains one of the most perilous routes for migrants attempting to reach Europe, with overcrowded and unseaworthy boats often leading to deadly accidents. Turkish authorities confirmed that rescue operations are ongoing to ensure no additional passengers remain missing.


Labels:

Comments

Post a Comment