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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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Tensions Escalate as Iran Warns Israel Against Retaliation

 

On October 17, Iran issued a stern warning to Israel against any retaliatory actions following a recent missile barrage. This warning comes as Israel intensifies its military operations in Lebanon, targeting the Tehran-backed Hezbollah.

The commander of Iran’s Revolutionary Guards emphasized that any Israeli attack would be met with a stronger response, highlighting the fragile and volatile nature of the current situation. This development follows a series of escalations, including a significant missile attack by Iran on October 1, which has further strained relations between the two nations.

As both sides prepare for potential further conflict, the international community watches closely, concerned about the broader implications for regional stability.


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