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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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Tesla Raises Prices in Canada by Up to $9,000 Starting February 1

 

Tesla Inc. has announced a significant price increase for its vehicles in Canada, effective February 1. The price hike will impact all trims of the Model 3, Model Y, Model S, and Model X. The most substantial increase will be seen in the Model 3, with prices rising by up to $9,000. Other models, including the Model Y, Model S, and Model X, will see increases of up to $4,000.

Tesla has not provided a specific reason for the price increase, but it coincides with the potential imposition of tariffs by the U.S. government. Additionally, the weakening Canadian dollar and higher costs compared to U.S. pricing have been cited as contributing factors.

This price adjustment comes on the heels of an earlier $1,000 increase in January, which pushed the Model 3 and Model Y out of eligibility for federal electric vehicle incentives. With the federal iZEV rebate program also running out of funds, the cost of purchasing a new Tesla in Canada is set to rise even further.

Tesla enthusiasts and potential buyers are now faced with higher price tags, raising questions about the affordability and demand for electric vehicles in the Canadian market.




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