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Why have gas prices dropped in Canada?

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The average price of gasoline across Canada tumbled over the last month, from 170.9 cents a litre to 142.1 cents a litre on average, according to GasBuddy, a tech company that tracks gas prices in the U.S and Canada.

One energy analyst says markets are in “panic mode” due to a possible recession, geopolitics and the Bank of Canada’s latest interest rate hike. These factors have caused the recent dip in gas prices across the country but the relief is not expected to last.

“In the past month alone, we’ve been saving about 35 cents a litre,” Dan McTeague, Canadians for Affordable Energy President, told CTV News Toronto in an interview on Friday (link out). “I would say by the second or third week of January, look for prices to move up anywhere from 15 to 20 cents on average.”

This weekend consumers can expect lower prices at pumps across most provinces and territories with British Columbia having the highest average of 159.7 cents per litre.

Alberta and Ontario drivers will enjoy average prices in the 130.0 cent range. Nova Scotia’s average is 142.3 cents, Saskatchewan, 144.4 cents, Northwest Territories is around 145.9 cents, the Prince Edward Island average is 148.6 cents and Quebec drivers are seeing an average of 149.6 cents.

New Brunswick, Manitoba and Newfoundland are seeing prices in the 150.0 cent range.

This comes after several months saw record-breaking gas prices for consumers. The country recorded the highest national average cost for gas on June 12 with a price of 210.8 cents, reports GasBuddy.

WHY PRICES DROPPED THIS WEEKEND

“Markets are very nervous,” McTeague told CTV News Toronto in an interview Friday.

McTeague says panic is due to a potential recession, strict COVID-19 lockdowns in China and increasing interest rates. Markets believe these factors may contribute to a “significant global slowdown.”

“Of course, the demand numbers and the supply picture paint a very different story,” he said of the steady demand for gasoline despite high prices.

In the past month, gas prices across Canada have fallen about 30 cents, but McTeague says diesel has consistently stayed high.

“Diesel has not moved, it’s still in the $2 range,” he said. “It’s really the global workhorse of all fuels. The fact that it hasn’t dropped shows that there’s tight supply.”

McTeague predicts there will be a “rebound” in prices in early January.

“I don’t think we’re gonna see lower prices, this is probably as good as it gets,” he said. “(Gas prices) might drop a few more pennies between now and Christmas for the early Christmas gift, but beyond that, Scrooge awaits us in 2023.”

WHY GAS PRICES FLUCTUATE

Gasoline prices are known to fluctuate from day to day and in each region. Natural Resources Canada, a federal government agency that oversees the country’s natural resources, explains on its website that there are many factors as to why gas prices fluctuate which are seen immediately at the pump.

When a consumer pays for gas there are four categories that person is paying for, which are the cost to extract crude oil from the ground, the cost of refining oil into gasoline and the cost to operate the retail location and taxes to governments, it states.

When there is a disruption to the chain, like world events, natural disasters or increased demand, prices will go up, it explains.

“The oil markets are extremely sensitive to these events and react quickly by raising or lowering prices if the available supply goes up or down,” the website states.

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Weegar committed to Calgary Flames despite veteran exodus

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MacKenzie Weegar wasn’t bitter or upset as he watched friends live out their dreams.

The Calgary Flames defenceman just hopes to experience the same feeling one day. He also knows the road leading to that moment, if it does arrive, will likely be long and winding — much like his own path.

A seventh-round pick by the Florida Panthers at the 2013 NHL draft, Weegar climbed the ranks to become an important piece of a roster that captured the Presidents’ Trophy as the league’s top regular-season club in 2021-22.

Two months later following a second-round playoff exit, he was traded to the Flames along with Jonathan Huberdeau for Matthew Tkachuk. And less than two years after that, the Panthers were hoisting the Stanley Cup.

“Happy for the city and for the team,” Weegar said of Florida’s June victory over the Edmonton Oilers. “There was no bad taste in my mouth.”

His sole focus, he insists, is squarely on eventually getting the Flames to the same spot. The landscape, however, has changed drastically since Weegar committed to Calgary on an eight-year, US$50-million contract extension in October 2022.

Weegar has watched a list that includes goaltender Jacob Markstrom, defencemen Chris Tanev, Noah Hanifin and Nikita Zadorov and forwards Elias Lindholm and Andrew Mangiapane shipped out of town since the start of last season — largely for picks, prospects and young players as part of a rebuild.

Despite that exodus, he remains committed to the Calgary project steered by general manager Craig Conroy.

“It’s easy to get out of all whack when you see guys trying to leave or wanting new contracts,” the 30-year-old from Ottawa said at last week’s NHL/NHLPA player media tour in Las Vegas. “I just focus on where I am and where I want to be, and that’s Calgary.

“I believe in this team. The city has taken me in right away. I feel like I owe it to them to stick around and grind through these years and get a Stanley Cup.”

The hard-nosed blueliner certainly knows what it is to grind.

After winning the Memorial Cup alongside Nathan MacKinnon with the Halifax Mooseheads in 2013, Weegar toiled in the ECHL and American Hockey League for three seasons before making his NHL debut late in the 2016-17 campaign with the Panthers.

He would spend the next five years in South Florida as one of the players tasked with shifting an organizational culture that had experienced little success over the previous two decades.

“There’s always going to be a piece of my heart and loyalty to that team,” Weegar said. “But now I’m in a different situation … I compete against all 32 teams, not just Florida. There’s always a chip on my shoulder every single year.”

Weegar set career highs with 20 goals — eight was the most he had ever previously registered — and 52 points in 2023-24 as part of a breakout offensive performance.

“I think my buddies cared a lot more than I did,” he said with a smile. “All I hear is, ‘fantasy, fantasy, fantasy.'”

Weegar was actually more proud of his 200 blocked shots and 194 hits as he looks to help set a new Flames’ standard alongside Huberdeau, captain Mikael Backlund, Nazem Kadri, Blake Coleman and Rasmus Andersson for a franchise expected to have its new arena in time for the 2027-28 season.

“You have to build that culture and that belief in the locker room,” said Weegar, who pointed to 22-year-old centre Connor Zary as a player set to pop. “Those young guys are going to have to come into their own and be consistent every night … they’re the next generation.”

Weegar, however, isn’t punting on 2024-25. He pointed to the NHL’s parity and the fact a couple of teams surprise every season.

It’s the same approach that took him from the ECHL a decade ago to hockey’s premier pre-season event inside a swanky hotel on Sin City’s famed strip, where he stood shoulder-to-shoulder with the game’s best.

“From the outside — media and even friends and family — the expectations are probably a bit lower,” Weegar said of Calgary’s outlook. “But there’s no reason to think that we can’t make playoffs and we can’t be a good team (with) that underdog mentality.

“You never know.”

This report by The Canadian Press was first published Sept 17, 2024.

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Follow @JClipperton_CP on X.



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Toronto FC promote forward Charlie Sharp, wingback Nate Edwards to first-team roster

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TORONTO – After being drafted in the third round (61st overall) of the 2023 MLS SuperDraft, forward Charlie Sharp decided to put his dream of playing professional football on hold.

He spent a couple of weeks training with Toronto FC that summer and then returned for a fifth year at Western Michigan University.

“It was a really tough decision for me,” Sharp recalled. “Because I knew that going back to school, nothing was guaranteed. I could get injured or not perform well, but it seemed to really work out for me.”

Sharp scored 19 goals and added eight assists as a senior, leading the Broncos to a 17-2-3 record and a third-round appearance in the NCAA tournament where they eventually lost to national runner-up Notre Dame on penalty kicks. Sharp, who scored or assisted in nine of his last 10 matches, ranked first in the NCAA with 0.95 goals per game and 2.30 points per game and was tied for second with seven game-winning goals.

The 23-year-old Sharp, whose rights were retained by Toronto, spent time with the TFC first team in this year’s pre-season and signed with Toronto FC II in February. On Tuesday, he joined TFC 2 teammate Nate Edwards, a wingback from Brampton, Ont., in signing a first-team contract.

“We are happy to officially elevate Charlie at this time,” Toronto GM Jason Hernandez said in a statement Tuesday. “His strong mentality and mature playing style will be a welcomed addition to our young player group in the first team.”

Both players signed contracts that run through 2025 with club options for 2026 and 2027.

The deals were completed in advance of Friday’s MLS roster freeze but took their time working their way through the league office.

“A bit of unorthodox path that I chose,” said Sharp. “But I think you’re seeing it more now with players that get drafted.”

“I’m super-happy,” he added. “I think I made the right decision.”

As a senior, Sharp was one of three finalists for the 2023 MAC Hermann Trophy, which honours the top NCAA soccer player. The award eventually went to Clemson senior forward Ousmane Sylla.

The six-foot-five 185-pounder from Brighton, Mich., finished his collegiate career with 42 goals 22 assists, and 106 points in 89 games. He ranks first in career goals and games and tied for fourth in assists for Western Michigan.

In returning to Kalamazoo for a fifth year, Sharp also succeeded off the pitch by completing his degree in computer information systems.

Despite some niggling injuries, Sharp has five goals and two assists in 16 appearances with TFC 2 this season. He made his first-team debut off the bench May 15 against Nashville.

“I had a lot of friends and family watching,” he said.

“It’s been a journey,” Sharp added. “I’ve been thankful for every step of the way.,”

The 21-year-old Edwards has one goal and two assists in 23 games with TFC’s MLS Next Pro team.

“He has been a top performer with TFC II this season and we look forward to his continued growth within our environment,” said Hernandez

Edwards, who also joined TFC 2 in February, made his first-team debut May 21 in Canadian Championship play against Ligue1 Quebec champion CS Saint-Laurent.

The five-foot-eight 167-pounder split his college career between Syracuse University and Purdue University Fort Wayne. As a senior in 2023, he had one goal and four assists for Syracuse and was named to the 2023 All-Atlantic Coast Conference (ACC) Academic Team and College Sport Communicators (CSC) Academic All-District Team.

At Purdue University Fort Wayne, he had two goals and an assist in 40 appearances across three seasons (2020-2022) with the Mastodons.

Follow @NeilMDavidson on X platform, formerly known as Twitter

This report by The Canadian Press was first published Sept. 17, 2024.

The Canadian Press. All rights reserved.



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Calgary man sentenced to six years in prison for sharing terrorism videos on TikTok

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CALGARY – A Calgary man who pleaded guilty to sharing Islamic State recruitment videos and propaganda on TikTok will spend the next six years behind bars.

Zakarya Rida Hussein was sentenced during a court appearance on Friday after he pleaded guilty to one of four terrorism-related charges.

Hussein admitted that he owned social media accounts that posted ISIS recruitment videos and propaganda.

He also admitted to sharing a bomb-making video online.

The man was arrested in June 2023 after a joint investigation led by the RCMP and the Calgary Police Service.

Hussein will need to submit DNA results and will be under lifetime ban from owning firearms after he’s released.

This report by The Canadian Press was first published Sept. 17, 2024.

The Canadian Press. All rights reserved.



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