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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 Mayhem: Weak Jobs Report and Tariffs Trigger Wall Street Sell-Off

 

Wall Street was rocked Friday as a disappointing U.S. jobs report and sweeping new tariffs sent shockwaves through financial markets. The S&P 500 plunged 1.5%, the Dow Jones Industrial Average dropped 486 points (1.1%), and the Nasdaq tumbled 2%—marking one of the worst trading days since May.

The Labor Department revealed that only 73,000 jobs were added in July, far below expectations. Even more alarming, revisions to May and June data erased 258,000 jobs, amplifying concerns about a slowing economy. Unemployment ticked up to 4.2%, further rattling investor confidence.

Adding fuel to the fire, President Donald Trump announced new tariffs on imports from 66 countries, with rates ranging from 10% to 41%, effective August 7. The move intensified fears of a global trade war and economic stagnation.

Bond markets responded sharply:

  • 10-year Treasury yield fell from 4.39% to 4.22%
  • 2-year Treasury yield dropped from 3.94% to 3.71%

Investors now see an 85% chance of a Federal Reserve rate cut in September, up from just 40% the day before. While a cut could stimulate the economy, it risks stoking inflation, which already rose to 2.6% in June.

Ellen Zentner of Morgan Stanley summed up the mood: “What had looked like a Teflon labor market showed some scratches this morning, as tariffs continue to work their way through the economy”.

With recession fears mounting and policy uncertainty looming, markets are bracing for a volatile August.


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