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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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Canada’s Economy Braces for Potential Downturn

                                            The Bank of Canada

Canada’s economic outlook has grown increasingly uncertain as a majority of financial leaders warn of a possible recession within the next six months. Rising interest rates, slowing consumer spending, and global market volatility are fueling concerns that the country could face a period of contraction.

Business executives and economists point to persistent inflationary pressures and weakened investment confidence as key risks. While some sectors, such as energy and technology, remain resilient, others—particularly housing and retail—show signs of strain.

Policymakers are under pressure to balance inflation control with measures that support growth. The Bank of Canada’s monetary decisions in the coming months will play a critical role in determining whether the nation can avoid a recession or must weather a downturn.

 In short, Canada stands at a crossroads: either navigate carefully to sustain growth or risk slipping into economic decline.


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