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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Heat Wave Sweeps Ontario and Quebec: Record-Breaking Temperatures and Health Risks

 


As the mercury soars into the 30s across Ontario and Quebec this week, residents are bracing for an extended period of extreme heat and humidity. Humidex levels are stretching into the 40s, posing health risks for everyone. Here’s what you need to know:

  1. Health Impacts: Extreme heat can lead to heat exhaustion and heat stroke. Stay hydrated, avoid strenuous outdoor activities, and be vigilant about heat-related symptoms.

  2. Record-Breaking Heat: A strong ridge of high pressure over the eastern U.S. and the Great Lakes is driving this heat wave. Hot, muggy winds from the Gulf of Mexico add tropical humidity. Humidex values could reach the mid-40s in Greater Toronto, Hamilton, Ottawa, and Montreal, challenging records set during the 2018 heat wave.

  3. Air Quality Concerns: The stagnant, humid air mass may deteriorate air quality. Scattered thunderstorms could provide temporary relief, but overall, we’re in for sweltering days and sticky nights.

Remember to take precautions, stay informed about weather alerts, and prioritize your well-being during this intense heat wave. 

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