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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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Top Savings and GIC Rates in Canada This Week

                                                             


Canadians looking to maximize their returns on safe investments have strong options this week, with both high-interest savings accounts (HISAs) and guaranteed investment certificates (GICs) offering competitive rates.

High-Interest Savings Accounts

  • KOHO Earn Interest Account continues to lead with an impressive 3.5% interest rate, offering unlimited transactions and cashback perks.
  • Other online banks and credit unions are hovering around 3.0%–3.25%, making HISAs a flexible choice for those who want liquidity while still earning meaningful returns.

Guaranteed Investment Certificates (GICs)

  • For short-term savers, MCAN Wealth is offering 3.65% on a 1-year GIC, one of the highest rates available.
  • Longer-term investors can lock in 3.95% for a 5-year GIC with MCAN Wealth, while EQ Bank provides 3.45% on a 5-year term, balancing security with steady growth.
  • Credit unions such as WFCU are also competitive, with 3.30% on a 1-year GIC.

Takeaway

For Canadians weighing their options, HISAs provide flexibility and liquidity at rates above 3%, while GICs offer guaranteed returns up to nearly 4% for longer commitments. The choice depends on whether you value access to your funds or prefer locking in for higher yields.


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