Business
Gasoline prices up from a year ago as drivers head into holiday weekend
Canadians planning to hit the road for the last long weekend of summer can expect to pay more for gasoline than they did last Labour Day. Taps are photographed at a gas station in Frankfurt, Germany, on Oct. 5, 2022. THE CANADIAN PRESS/AP-Michael Probst
By Amanda Stephenson in Calgary
As crude oil prices hit a twelve-month high on Friday, Canadians planning to hit the road for the last long weekend of summer will pay more for gasoline than they did last Labour Day.
The national average gasoline price as of Friday was $1.67 cents per litre, according to fuel price tracking website GasBuddy.com. That compares with $1.37 cents per litre on Sept. 1, 2022.
Gasoline prices began to rise in July and August of this year, in part due to crude oil production cuts by Saudi Arabia and Russia. Crude oil prices continued their rise this week, due to dwindling crude inventories in the U.S. as well as projections that Saudi Arabia will extend its supply cuts into October.
On Friday, the benchmark crude price West Texas Intermediate hit a 12-month high, trading above US$85 per barrel compared to about US$75 per barrel one year ago.
Vijay Muralidharan, energy analyst and managing director with R Cube Consulting Inc., said driving demand through the summer months has been strong and North American refineries are dealing with a tight supply situation.
Still, he said consumers are likely to find some relief at the pumps into the fall and winter, as the impact of interest rate hikes by central bankers increasingly takes effect and global economies begin to cool, reducing demand for crude.
“I think there will be an economic slowdown in the in the near-term horizon,” Muralidharan said.
“Early next year I think you will see some breathing room, a demand pullback. It’s going to come, it’s inevitable.”
However, Muralidharan said in the meantime refinery stocks are so tight that any kind of unexpected outage or issue could cause a jump in prices.
“Even if it’s a 100,000 barrel or 200,000 barrel refinery, any kind of upset is going to cause price spikes,” he said.
According to GasBuddy.com, the most expensive gasoline this week can be found in B.C. and Newfoundland, while drivers in Alberta enjoy the cheapest fuel prices.
This report by The Canadian Press was first published Sept. 1, 2023.
Business
Trump considers $5K bonus for moms to increase birthrate

MxM News
Quick Hit:
President Trump voiced support Tuesday for a $5,000 cash bonus for new mothers, as his administration weighs policies to counter the country’s declining birthrate. The idea is part of a broader push to promote family growth and revive the American family structure.
Key Details:
- Trump said a reported “baby bonus” plan “sounds like a good idea to me” during an Oval Office interview.
- Proposals under consideration include a $5,000 birth bonus, prioritizing Fulbright scholarships for parents, and fertility education programs.
- U.S. birthrates hit a 44-year low in 2023, with fewer than 3.6 million babies born.
Diving Deeper:
President Donald Trump signaled his support Tuesday for offering financial incentives to new mothers, including a potential $5,000 cash bonus for each child born, as part of an effort to reverse America’s falling birthrate. “Sounds like a good idea to me,” Trump told The New York Post in response to reports his administration is exploring such measures.
The discussions highlight growing concern among Trump administration officials and allies about the long-term implications of declining fertility and family formation in the United States. According to the report, administration aides have been consulting with pro-family advocates and policy experts to brainstorm solutions aimed at encouraging larger families.
Among the proposals: a $5,000 direct payment to new mothers, allocating 30% of all Fulbright scholarships to married applicants or those with children, and launching federally supported fertility education programs for women. One such program would educate women on their ovulation cycles to help them better understand their reproductive health and increase their chances of conceiving.
The concern stems from sharp demographic shifts. The number of babies born in the U.S. fell to just under 3.6 million in 2023—down 76,000 from 2022 and the lowest figure since 1979. The average American family now has fewer than two children, a dramatic drop from the once-common “2.5 children” norm.
Though the birthrate briefly rose from 2021 to 2022, that bump appears to have been temporary. Additionally, the age of motherhood is trending older, with fewer teens and young women having children, while more women in their 30s and 40s are giving birth.
White House Press Secretary Karoline Leavitt underscored the administration’s commitment to families, saying, “The President wants America to be a country where all children can safely grow up and achieve the American dream.” Leavitt, herself a mother, added, “I am proud to work for a president who is taking significant action to leave a better country for the next generation.”
Business
Trump: China’s tariffs to “come down substantially” after negotiations with Xi

MxM News
Quick Hit:
President Trump said the 145% tariff rate on Chinese imports will drop significantly once a deal is struck with Chinese President Xi Jinping, expressing confidence that a new agreement is on the horizon.
Key Details:
- Trump said the current 145% tariff rate on China “won’t be anywhere near that high” after negotiations.
- He pointed to his relationship with Xi Jinping as a reason for optimism.
- The White House said it is preparing the groundwork for a deal, and Treasury officials expect a “de-escalation” of the trade war.
Diving Deeper:
President Donald Trump on Tuesday told reporters that the steep tariff rate currently imposed on Chinese imports will come down substantially after his administration finalizes a new trade deal with Chinese President Xi Jinping. While the current level stands at 145%, Trump made clear that number was temporary and would be adjusted following talks with Beijing.
“145 percent is very high. It won’t be that high, it’s not going to be that high … it won’t be anywhere near that high,” Trump said from the Oval Office, signaling a shift once a bilateral agreement is reached. “It will come down substantially, but it won’t be zero.”
The tariff, which Trump previously described as “reciprocal,” was maintained on China even after he delayed similar penalties on other trading partners. Those were cut to 10% and paused for 90 days to allow room for further negotiation.
“We’re going to be very nice. They’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal because otherwise they’re not going to be able to deal in the United States,” Trump said, reinforcing his view that the U.S. holds the leverage.
Trump’s remarks come as markets remain wary of ongoing trade tensions, though the White House signaled progress, saying it is “setting the stage for a deal with China.” The president cited his personal rapport with Xi Jinping as a key factor in his confidence that an agreement can be reached.
“China was taking us for a ride, and it’s not going to happen,” Trump said. “They would make billions a year off us and build up their military with our money. That’s over. But we’ll still be good to China, and I think we’ll work together.”
Treasury Secretary Scott Bessent also said Tuesday that he expects a cooling of trade hostilities between the two nations, according to several reports from a private meeting with investors.
As the 90-day pause on other reciprocal tariffs nears its end, Trump emphasized that his team is prepared to finalize deals quickly. “We’ve been in talks with many, many world leaders,” he said, expressing confidence that talks will “go pretty quickly.”
White House Press Secretary Karoline Leavitt added that the administration has received 18 formal proposals from other countries engaged in trade negotiations, another sign that momentum is building behind Trump’s broader push to restructure global trade in favor of American workers and businesses.
(Li Xueren/Xinhua via AP)
-
2025 Federal Election2 days ago
Ottawa Confirms China interfering with 2025 federal election: Beijing Seeks to Block Joe Tay’s Election
-
2025 Federal Election1 day ago
BREAKING: THE FEDERAL BRIEF THAT SHOULD SINK CARNEY
-
2025 Federal Election1 day ago
How Canada’s Mainstream Media Lost the Public Trust
-
2025 Federal Election1 day ago
Real Homes vs. Modular Shoeboxes: The Housing Battle Between Poilievre and Carney
-
2025 Federal Election1 day ago
CHINESE ELECTION THREAT WARNING: Conservative Candidate Joe Tay Paused Public Campaign
-
COVID-191 day ago
Nearly Half of “COVID-19 Deaths” Were Not Due to COVID-19 – Scientific Reports Journal
-
John Stossel1 day ago
Climate Change Myths Part 2: Wildfires, Drought, Rising Sea Level, and Coral Reefs
-
Business24 hours ago
‘Great Reset’ champion Klaus Schwab resigns from WEF