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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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Your lookahead horoscope: July 28, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You are not at the mercy of events and must not allow yourself to think that you are. The coming year will bring a succession of events where it is entirely up to you to choose which direction to move in. Choose wisely and enjoy the results.

ARIES (March 21 - April 20):

The sun in the most dynamic area of your chart will not only give you the strength to tackle a difficult task but also the determination to make the best possible job of it. Some people say you lack staying power but you are about to prove them wrong.

TAURUS (April 21 - May 21):

There are things in life that are far more important than making money and getting ahead in the rat race and one of those things is your family. Take time out of your busy schedule to let your nearest and dearest know how much you love them.

GEMINI (May 22 - June 21):

Pleasant surprises of one sort or another await you over the next few days and by this time next week you may be in need of a rest. Will you take it? Probably not. Your livewire Gemini nature is always searching for the next big thrill.

CANCER (June 22 - July 23):

You will need to call on all your powers of self-discipline when dealing with people who refuse to see being reasonable as a matter of honour. They may think of themselves as brilliant mavericks but to you they are just a pain. Don’t hold back – let them know.

LEO (July 24 - Aug. 23):

Nothing stays the same forever and if you have to move on from a relationship over the coming week then so be it. But make sure this really is the right time to cut ties. You could still be good for each other for a while yet.

VIRGO (Aug. 24 - Sept. 23):

If the constant buzz of ideas in your head means you don’t feel much like socializing over the next few days that’s fine. Take some time out to get your thoughts in order and then come back to the world refreshed and raring to go.

LIBRA (Sept. 24 - Oct. 23):

You may be inclined not to compromise on an issue you feel strongly about but the planets warn it could easily turn into a vendetta that eats into your time and energy. Is it worth getting so worked up about? No. Few things ever are.

SCORPIO (Oct. 24 - Nov. 22):

Career matters and business issues are under excellent stars, so if you see a chance to improve your position on the work front or boost your bank balance then go for it. When making deals make sure you get paid your full worth, not a cent less.

SAGITTARIUS (Nov. 23 - Dec. 21):

You have never been a stickler for following the rules, you are too much of a free spirit for that, but if you cut corners now the rules you break could end up breaking you later on. Be sensible and, on this occasion, do everything by the book.

CAPRICORN (Dec. 22 - Jan. 20):

Progress may seem limited but if you keep plugging away and believe that a breakthrough will happen when the time is right then it surely will. It may not seem like it every single moment but you are laying the foundations for future success.

AQUARIUS (Jan. 21 - Feb. 19):

If you have any chores to finish off you are advised to whizz through them quickly, because the early part of the new week will bring opportunities that you won’t want to miss. Keep the tempo going – don’t slow down for even a moment.

PISCES (Feb. 20 - Mar. 20):

If others expect you to go above and beyond the call of duty you will do your best to please them but don’t push so hard that you risk hurting yourself. Little things may seem important but ultimately the big picture is the only one that matters.

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