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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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Canadian Drivers Brace for Higher Pump Prices as Retailers Shift Rising Costs to Consumers



Rising Oil Prices Fuel Retailer Response

  • U.S. benchmark oil prices have climbed nearly 20% since recent military strikes in the Middle East.
  • Canada’s average gas price has already increased by more than 5.8%, according to Kalibrate data. 

DBRS Morningstar’s Warning

  • DBRS Morningstar reports that gas station owners are unlikely to absorb higher wholesale fuel costs.
  • Instead, they are expected to pass these increases on to consumers to maintain profitability.
  • The agency highlights that the conflict has disrupted energy infrastructure across the Middle East, tightening supply and raising global fuel prices. 

Impact on Canadian Consumers

  • Drivers across Canada should anticipate continued price hikes at the pump in the coming weeks.
  • Retailers in both Canada and the U.S. are facing similar pressures, suggesting a broader North American trend toward higher fuel costs. 


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