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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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Greece Accelerates Debt Reduction with €5.3 Billion Early Repayment

 

The Greek economy is gradually rebounding from a 2009-2018 crisis that saw it nearly drop out of the euro zone and that triggered years of social unrest.

Greece has taken a significant step toward strengthening its financial stability by repaying €5.3 billion in bailout debt ahead of schedule. The debt, originally due after 2031, was part of the country’s first bailout package in 2010 from eurozone partners. According to government officials, this early repayment will save Greece €1.6 billion in interest payments by 2041 and help reduce its debt-to-GDP ratio to below 120% by 2029.

The repayment was made through the European Commission to each eurozone country involved in the bailout. This move highlights Greece’s steady recovery from the 2009–2018 debt crisis, which nearly forced the nation out of the eurozone and triggered years of austerity measures, wage cuts, and social unrest.

While Greece still holds the highest debt-to-GDP ratio in the euro area, the early repayment demonstrates improved fiscal credibility and signals confidence in the country’s economic trajectory. Analysts note that this action not only reduces future financial burdens but also strengthens Greece’s reputation among European partners.

This milestone reflects a broader effort by Athens to rebuild trust and stability after a decade of economic hardship. By accelerating debt reduction, Greece is positioning itself for stronger growth and greater resilience in the years ahead.


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