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Price at the gas pumps could rise more as OPEC Plus cuts production

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Gasoline prices in Canada continue to creep higher ahead of the Thanksgiving long weekend.

According to retail fuel price tracking website GasBuddy.com, the national average price for regular gasoline as of midday Wednesday was 167.4 cents per litre, up 1.1 cents from the day before and an increase of 6.5 cents from last week’s average of 160.8 cents per litre.

Some commentators had predicted gasoline prices could jump as much as 10 cents per litre in some markets mid-week. While that hasn’t materialized, retail gas prices — particularly on the western half of the continent — are still being impacted by a series of unexpected refinery outages in the U.S. that have led to supply challenges.

And while the price of crude oil slumped in September, with the international benchmark Brent sagging as low as US$84 in recent days after spending most of the summer months over $100 per barrel, it jumped on Wednesday after the OPEC Plus alliance of oil-exporting countries decided to sharply cut production.

The group will cut production by a larger-than-expected 2 million barrels per day starting in November, saying the decision was based on “the uncertainty that surrounds the global economic and oil market outlooks.”

The impact of the production cut on oil prices — and thus the price of gasoline made from crude — will be limited somewhat because OPEC Plus members already can’t meet their quotas.

Still, the move could result in higher pump prices for North American drivers. The U.S. benchmark crude price West Texas Intermediate rose to US$87.64, and Brent crude rose to $93.21 immediately following the OPEC Plus decision on Wednesday.

According to GasBuddy.com, drivers in British Columbia had the most expensive gasoline Wednesday, with a provincial average price of 220.2 cents per litre.

Ontario drivers enjoyed the cheapest fuel, at 152 cents per litre on average.

– With files from The Associated Press

This report by The Canadian Press was first published Oct. 5, 2022.

 

The Canadian Press

 

Note to readers: This is a corrected story. An earlier version incorrectly stated Wednesday’s prices for gas throughout the story.

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End of Manitoba legislature session includes replacement-worker ban, machete rules

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WINNIPEG – Manitoba politicians are expected to pass several bills into law before the likely end of legislature session this evening.

The NDP government, with a solid majority of seats, is getting its omnibus budget bill through.

It enacts tax changes outlined in the spring budget, but also includes unrelated items, such as a ban on replacement workers during labour disputes.

The bill would also make it easier for workers to unionize, and would boost rebates for political campaign expenses.

Another bill expected to pass this evening would place new restrictions on the sale of machetes, in an attempt to crack down on crime.

Among the bills that are not expected to pass this session is one making it harder for landlords to raise rents above the inflation rate.

This report by The Canadian Press was first published Nov. 7, 2024

The Canadian Press. All rights reserved.



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Father charged with second-degree murder in infant’s death: police

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A Richmond Hill, Ont., man has been charged with second-degree murder in the death of his seven-week-old infant earlier this year.

York Regional Police say they were contacted by the York Children’s Aid Society about a child who had been taken to a hospital in Toronto on Jan. 15.

They say the baby had “significant injuries” that could not be explained by the parents.

The infant died three days later.

Police say the baby’s father, 30, was charged with second-degree murder on Oct. 23.

Anyone with more information on the case is urged to contact investigators.

This report by The Canadian Press was first published Nov. 7, 2024.

The Canadian Press. All rights reserved.



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Ontario fast-tracking several bills with little or no debate

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TORONTO – Ontario is pushing through several bills with little or no debate, which the government house leader says is due to a short legislative sitting.

The government has significantly reduced debate and committee time on the proposed law that would force municipalities to seek permission to install bike lanes when they would remove a car lane.

It also passed the fall economic statement that contains legislation to send out $200 cheques to taxpayers with reduced debating time.

The province tabled a bill Wednesday afternoon that would extend the per-vote subsidy program, which funnels money to political parties, until 2027.

That bill passed third reading Thursday morning with no debate and is awaiting royal assent.

Government House Leader Steve Clark did not answer a question about whether the province is speeding up passage of the bills in order to have an election in the spring, which Premier Doug Ford has not ruled out.

This report by The Canadian Press was first published Nov. 7, 2024.

The Canadian Press. All rights reserved.



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