As of Monday, the federal government’s pause of excise taxes on gasoline and diesel is in effect. This tax holiday will remove up to $0.10 per litre on gasoline and $0.04 per litre on diesel fuel.

The tax holiday is expected to cost the government about $2.4 billion. Average gas prices across Canada were $1.69 a litre on Monday, a decrease from last week’s average of $1.74 per litre.

Last year, gas prices were significantly lower at $1.31 per litre. The current situation reflects ongoing economic pressures exacerbated by the global oil crisis.

Gasoline prices in Newfoundland and Labrador fell by 11.5 cents per litre, while diesel prices decreased by 4.6 cents per litre.

The suspension of excise taxes on auto and aviation fuels will last until September 7. However, propane and furnace oil remain exempt from this federal excise tax.

Prime Minister Carney noted that “the tax holiday will mean reduced fuel prices on gas by up to $0.28 per litre.” This reduction comes as the U.S.-Iran war continues to impact global oil prices dramatically.

Details remain unconfirmed regarding how long these price reductions will last or their long-term effects on the market.

Conservative Leader Pierre Poilievre had urged the government to lift the fuel excise tax amidst rising costs for Canadians.

The Strait of Hormuz accounts for nearly 20 percent of all oil trade globally, making it a crucial point in understanding current fuel price dynamics.

This situation is evolving rapidly as consumers await further developments in both domestic policy and international markets.

Сообщение Fuel: Canada’s Tax Holiday Takes Effect Amid Global Oil Crisis появились сначала на justrealnews.

In a recent statement, Cuban President Miguel Díaz-Canel addressed the escalating tensions with the United States, asserting that the U.S. has no valid reason to attack Cuba or seek his ouster. He warned that any invasion would be costly and detrimental to regional security, emphasizing that Cuba’s military posture is entirely defensive.

Díaz-Canel condemned the U.S. economic embargo, labeling it “genocidal and cruel,” and expressed Cuba’s openness to foreign investment in oil exploration and drilling as a means to alleviate the energy crisis. He stated, “I think the U.S. government should review how cruel and how mean they’ve been to Cuba and to the Cuban people.”

In a passionate defense of his country, Díaz-Canel declared, “If that happens, there will be fighting, and there will be a struggle, and we will defend ourselves, and if we need to die, we’ll die, because as our national anthem says, ‘Dying for the homeland is to live.’” This statement underscores the resolve of the Cuban leadership to protect its sovereignty against external threats.

Despite the mounting pressure, Díaz-Canel did not commit to releasing political prisoners during his remarks, reiterating that issues concerning Cuba’s political system are not negotiable with the United States. He stated, “Nobody has made those demands to us, and we have established that in respect to our political system or constitutional order, these are issues that are not under negotiations with the United States.”

As the situation unfolds, observers are closely monitoring the potential ramifications of these developments. The Cuban government remains steadfast in its position, while the U.S. continues to impose restrictions that have deepened the island’s economic woes. The future remains uncertain as both nations navigate this complex geopolitical landscape.

Сообщение Miguel Díaz-Canel Responds to U.S. Threats Amid Economic Crisis появились сначала на justrealnews.

The Novorossiisk terminal, the largest Russian port on the Black Sea, has been a critical hub for oil exports, processing between 3.5 and 4.5 million tons of crude oil each month. This facility, operated by Transneft, holds a state monopoly on oil pipelines in Russia and is vital for the country’s energy revenues. However, the situation has escalated dramatically following a large-scale Ukrainian drone attack that set the terminal ablaze.

This attack is part of a broader strategy by the Ukrainian army, which has targeted several Russian oil terminals along the Baltic and Black Sea coasts. As a result, Russian maritime oil exports have plummeted to their lowest levels in two months, with reports indicating a staggering 43% decline in oil exports during the week of March 22 to March 29, 2026. Exports fell to just 2.318 million barrels per day, down from 4.072 million barrels per day the week prior, marking a significant disruption in the energy market.

Only 22 oil tankers were chartered during that same week, a reduction of 15 compared to the previous week. This sharp decline in activity underscores the impact of the ongoing conflict on Russia’s oil export capabilities, which are crucial for its economy. The Moscow Times characterized the latest strike as “the latest strike against infrastructure essential to Moscow’s energy revenues,” highlighting the strategic importance of these attacks.

As the situation develops, concerns are mounting over a potential energy crisis that could surpass the oil shocks of the 1970s. Fatih Birol, a prominent energy expert, warned that “the world is facing the greatest threat to global energy security in history,” while Lars Jensen echoed these sentiments, stating that the current crisis could be more severe than past oil shocks.

Adding to the complexity of the situation is the closure of the Strait of Hormuz, which has raised alarms about the potential for an energy crisis worse than that experienced in the 1970s. Thierry Breton noted that while the Strait is not closed for everyone, diplomatic efforts are underway concerning Iran, which could influence future energy flows.

As observers analyze the implications of the attack on the Novorossiisk terminal, the focus remains on how this will affect global oil markets and energy security. The ongoing conflict between Ukraine and Russia continues to reshape the landscape of energy exports, with potential repercussions felt worldwide.

Details remain unconfirmed regarding the full extent of the damage at the terminal and the operational status of Transneft’s facilities. However, the urgency of the situation cannot be overstated as the world watches closely for further developments in this critical sector.

Сообщение Pétrolier: Petrolier Crisis: Major Russian Oil Terminal in Flames After Ukrainian Attack появились сначала на justrealnews.