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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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LCBO Strike Continues Amidst Dispute Over Return-to-Work Protocol

 

A tentative agreement to end the two-week-long strike at the Liquor Control Board of Ontario (LCBO) has been thrown into question, with both sides accusing each other of bad faith bargaining. The Ontario Public Service Employees Union (OPSEU), representing 10,000 LCBO workers, announced that the strike would continue because the employer refused to sign a return-to-work protocol.

Despite initial optimism, the LCBO has stated that OPSEU introduced significant new monetary demands after the tentative deal was reached, which they argue should have been addressed during negotiations. The LCBO plans to file an unfair labour practice complaint against OPSEU.

The strike, which began on July 5, has been largely driven by concerns over Premier Doug Ford’s plan to allow convenience and grocery stores to sell ready-to-drink cocktails, a move that OPSEU claims threatens their jobs. The LCBO, however, maintains that this issue is not relevant to the bargaining table.

Negotiations had resumed earlier this week, with the LCBO offering wage increases, improved benefits for part-time workers, and the conversion of casual workers to permanent full-time positions. However, the failure to finalize the return-to-work protocol has left the strike ongoing, with no clear resolution in sight.


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