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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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Missile Barrage Strikes Northern Israel: Emergency Services Respond to Escalating Tensions

 

Israeli emergency services reported dealing with a string of fires in northern Israel on Friday after dozens of missiles were fired from southern Lebanon into the area around the border town of Kiryat Shemona. The military confirmed that warning sirens had sounded in northern Israel, and emergency services teams were dispatched to search the affected area. Fortunately, there were no casualties reported, but property damage occurred.

Television footage showed damaged buildings, cars, and brush fires caused by strikes or falling debris amid heatwave conditions. The Israeli military has been engaged in regular exchanges of fire with Hezbollah forces across the border in southern Lebanon since the start of the war in Gaza last October. While neither side appears to desire a wider conflict, the escalating strikes raise concerns about the situation spiraling out of control.

The latest salvo followed an Israeli strike that killed a senior commander from the Iranian-backed Hezbollah militia in southern Lebanon earlier this week. Tens of thousands of residents have been evacuated from their homes on both sides of the border, putting pressure on diplomatic efforts to resolve the stand-off.

On Friday, the Israeli Air Force intercepted 11 out of 16 drones launched by Hezbollah against Israel in the past 72 hours. The situation remains tense, with the risk of further escalation in a region that has already witnessed direct exchanges between Israel and Iran.


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