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The Gas Tax Holiday Ends in 24 Days — Here's the Real Math on What You'll Save

  Published August 14, 2026 Ottawa's fuel excise tax suspension shuts off September 7. Here's what it's actually been worth at the pump, what changes the next morning, and who should plan a fill-up before Labour Day. The Countdown The federal fuel excise tax returns to full rate on September 8, 2026 — that's 24 days from today. Prices reset to their pre-April 20 rate the moment the clock hits midnight. If you've noticed gas feeling a little less painful since spring, that wasn't your imagination. On April 20, 2026, Ottawa suspended the federal fuel excise tax — 10 cents a litre off gasoline, 4 cents off diesel — as Middle East oil-supply disruptions pushed pump prices toward $2 a litre in some cities. The suspension, passed as part of Bill C-30, has been running for nearly four months. It ends September 7, inclusive. On September 8, the tax comes right back. What the holiday actually saved you The headline number — 10 cents a litre on gas — undersells it sligh...
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Market Predicts 50 Basis Point Rate Cut by BoC Amidst Weak Job Data

 

In a surprising turn of events, money markets are now heavily betting on an oversized 50 basis point rate cut by the Bank of Canada (BoC) next week, following today's disappointing jobs data. Analysts had anticipated a more conservative cut, but the weaker-than-expected employment figures have shifted expectations dramatically.

The BoC had previously cut interest rates by 50 basis points in October, bringing the rate down to 3.75%. This move was aimed at curbing inflation and supporting economic growth. However, today's job data revealed a sluggish labor market, with modest job layoffs and weak business hiring, particularly affecting young people and newcomers to Canada.

Economists are now predicting that the BoC will take a more aggressive stance to stimulate the economy, with a 50 basis point cut seen as necessary to maintain inflation at the 2% target and support economic recovery. The market's reaction underscores the growing concerns about the economic outlook and the need for more substantial measures to boost growth.

As the BoC prepares for its December rate decision, all eyes will be on the central bank to see if it follows through with the anticipated rate cut. The decision will have significant implications for borrowing costs and overall economic activity in Canada.



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