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10 Days Left: What the End of the Gas Tax Holiday Actually Costs You

  By MoneySavings.ca  |  August 28, 2026 The federal gas tax holiday ends in 10 days. Starting September 8, the 10-cent-per-litre federal excise tax on gasoline comes back — and diesel's 4-cent-per-litre tax returns with it. If you've gotten used to cheaper fill-ups since April, here's exactly what changes and what it'll cost you. What the Tax Holiday Actually Did Back in April, Ottawa suspended the federal fuel excise tax on gasoline, diesel, and aviation fuels to cushion Canadians from a spike in global oil prices tied to the Iran conflict. Since April 20, the federal excise rate on gasoline has sat at 0 cents per litre instead of the usual 10 cents. Diesel and aviation fuel taxes dropped to zero from their normal 4-cent rate. Finance Canada pegged the total relief at more than $2.4 billion over the year. That relief window closes September 7 — Labour Day — inclusive. On September 8, rates snap back to their standard levels: 10 cents/litre on gasoline, 4 cents/litre o...
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TSX Futures Subdued as Commodity Prices Weigh on Investor Optimism


In the premarket trading, futures for Canada’s main stock index remained subdued due to a decline in commodity prices. Despite optimism following the index nearing a record high in the previous session, lower commodity prices have tempered expectations. Let’s dive into the details.

The S&P/TSX composite index on the Toronto Stock Exchange had recently reached its highest level in four weeks. This rally was triggered by the U.S. Federal Reserve’s decision to leave its key interest rate unchanged at its last meeting, coupled with indications that the next move would likely be a rate cut.

However, commodities took a hit. Both precious and base metals saw price declines, partly due to a stronger U.S. dollar, which made commodities relatively more expensive. Oil prices also fell, driven by industry data showing an accumulation of crude and fuel inventories in the U.S. Additionally, cautious supply expectations ahead of an OPEC+ policy meeting contributed to the decline in oil prices.

Investors are closely monitoring employment data for April in Canada and weekly jobless claims in the U.S. for further insights. Meanwhile, Suncor Energy, the second-largest oil producer in Canada, beat first-quarter profit estimates, supported by robust demand for refined products and record oil sands production.

In summary, while optimism persists, the drag from sliding commodity prices is keeping TSX futures in check. Investors are navigating this delicate balance as they await economic data and corporate earnings reports.


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