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Gas Prices Are Finally Falling in Canada — Here's How Much You're Saving and What Comes Next

After weeks of painful price spikes driven by the U.S.-Iran conflict, Canadians are finally catching a break at the pump. The national average gas price dropped to 169.1 cents per litre on Monday, April 20 — down from a peak near 198 cents — as two things happened at once: Iran reopened the Strait of Hormuz to commercial traffic, and Prime Minister Mark Carney's federal fuel excise tax suspension came into effect. National Average 169.1¢/L ▼ Down from ~198¢/L peak Gas savings (excise tax) 10¢/L off gasoline until Sept. 7 Diesel savings 4¢/L off diesel until Sept. 7 WTI Crude (current) ~$87 ▼ Down from $120 peak What just happened — and why Since the U.S.-Iran conflict began in late February, Brent crude surged more than 55%, briefly topping $120 a barrel — the largest oil supply shock in the history of global markets, according to the Interna...
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Global Powers Rally for Lebanon: Aid and Ceasefire Amidst Crisis

 

In a bid to address the escalating humanitarian crisis in Lebanon, world powers convened in Paris to push for urgent aid and a ceasefire. The conference, attended by 70 government delegations and 15 international organizations, aimed to raise at least 500 million euros in humanitarian aid and support Lebanon’s security forces.

Lebanon’s caretaker Prime Minister Najib Mikati emphasized the dire situation, stating, "The storm we are currently witnessing is unlike any other, because it carries the seeds of total destruction, not only for our country, but for all human values as well". The conflict, primarily between Israel and Iran-backed Hezbollah, has resulted in over 2,000 deaths and displaced at least 1.2 million people.

Despite the significant turnout, expectations for concrete progress were low. The U.S., focused on its own diplomatic efforts, sent a low-level delegation, and key regional players like Saudi Arabia were represented by junior ministers. France, leveraging its historical ties with Lebanon, pledged 100 million euros in aid, while Germany committed 96 million euros.

The conference underscored the need to implement the 2006 U.N. Security Council resolution 1701, which calls for southern Lebanon to be free of any troops or weapons other than those of the Lebanese state. However, with ongoing hostilities and a complex geopolitical landscape, achieving a lasting ceasefire remains a formidable challenge.


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