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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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Shadows Over the Negotiating Table

            Some windows glow in a residential building left without heating and facing long power cuts in Kyiv.

Russian airstrikes struck multiple Ukrainian cities just as peace talks—brokered by the United States—opened in Abu Dhabi. The overnight assault targeted energy facilities in Kyiv, Kharkiv, and several regional centers, leaving large areas without power during freezing winter conditions. Ukrainian officials denounced the timing, arguing that the strikes were intended to weaken morale and undermine diplomatic momentum.

Despite the escalation, delegations from Ukraine, Russia, and the U.S. continued discussions focused on territorial disputes and security guarantees. Early indications suggested little movement from either side: Ukraine reiterated that it would not concede territory, while Russia maintained that territorial concessions remain central to any settlement.

The contrast between the violence on the ground and the diplomatic efforts abroad underscored the fragile nature of the negotiations. As talks resumed, the humanitarian impact of the strikes loomed large, raising questions about whether meaningful progress is possible while the conflict continues to intensify.


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