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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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Escalation in Gaza Amid Netanyahu’s U.S. Visit

 

Israeli forces have intensified their military operations in the Gaza Strip, launching new raids just hours before Prime Minister Benjamin Netanyahu’s scheduled address to the U.S. Congress. The latest attacks have resulted in significant destruction, particularly in towns east of Khan Younis in southern Gaza, forcing thousands of residents to flee westward in search of safety.

The Palestinian Civil Emergency Service reported receiving numerous distress calls from residents trapped in their homes in Bani Suhaila, but rescue efforts have been hampered by ongoing hostilities. Gaza health officials have confirmed that at least 55 people have been killed in the past 24 hours, adding to the already staggering death toll of over 39,000 Palestinians since the conflict began.

As Netanyahu prepares to address Congress and meet with President Joe Biden, the situation in Gaza continues to deteriorate. Local residents have expressed frustration and exhaustion, with many questioning where they can find refuge. The Israeli military maintains that its operations are aimed at eradicating Hamas militants responsible for attacks on Israeli territory.

The international community watches closely as the conflict escalates, with many calling for an immediate ceasefire to prevent further loss of life and humanitarian disaster.


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