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'The sky's the limit': Metro Vancouver gas prices hit a staggering 209.9 cents per litre – CTV News Vancouver

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Since breaking the all-time record Wednesday, the price of gasoline in Metro Vancouver has done it again, and again, climbing another 23 cents in just four days.

The average price of gasoline rose to 209.9 cents a litre Sunday morning.

That means it costs drivers $11.50 more to fill up a 50-litre tank than it did just a few days ago.

“Of course I left it until this morning, and it just jumped by 10 cents,” one Vancouver resident told CTV News. “I am just trying to wrap my head around everything: Food, gas, the cost of living, I mean, it’s an expensive city.”

Most gas stations were relatively quiet Sunday, except for a handful that were still charging 198.9 a litre. Those pumps saw drivers lined up to buy what’s now considered “cheaper” fuel, but was a record-breaking high just a couple of days ago.

Dan McTeague, president of Canadians for Affordable Energy, figures prices will keep climbing next week.

“The sky’s the limit. There is no end to this,” he told CTV News.

“We’ve got to get more independent,” said another driver. “We’ve got to start getting more refineries, more options. You know, don’t put all our eggs in one basket.”

The rapid spike is due largely to increased demand for fuel, the price of oil and the Russian invasion of Ukraine.  

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

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CPC Practice Exam

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