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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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Trump Convenes First Peace Board Meeting Amid Lingering Gaza Uncertainties

 

The U.S. Institute of Peace building prepares to host U.S. President Donald Trump's first Board of Peace meeting in Washington, D.C., U.S., February 18, 2026.


As President Donald Trump prepares to chair the inaugural meeting of the newly formed Board of Peace, the gathering is already drawing global attention due to unresolved questions surrounding the ongoing humanitarian and political crisis in Gaza. The board, created to advise on conflict resolution and long‑term stability initiatives, is expected to face immediate scrutiny over how it will address the region’s fragile cease-fire and the stalled negotiations between Israeli and Palestinian representatives.

Officials close to the administration have signaled that the meeting will focus on establishing the board’s priorities, though observers note that the situation in Gaza looms large over any discussion of regional peace. Humanitarian groups continue to raise alarms about access to aid, reconstruction challenges, and the uncertain future of displaced families. Diplomats, meanwhile, are watching closely to see whether the board will introduce new proposals or reinforce existing U.S. policy.

While the administration has emphasized its commitment to fostering stability, many analysts argue that meaningful progress will require clarity on Gaza’s political governance, security arrangements, and international support mechanisms. With expectations high and tensions still simmering, the board’s first session marks a pivotal moment for an initiative that aims to reshape the U.S. approach to global conflict resolution.


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