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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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Global Shipping Gridlocked as Tanker Damage Sparks Worldwide Disruption

Shipping through the Strait of Hormuz has ground to a near halt after vessels in the area were hit as Iran retaliated.

Global shipping has been thrown into turmoil as escalating conflict around the Strait of Hormuz leaves tankers stranded, damaged, and unable to move through one of the world’s most critical maritime chokepoints. Insurance companies have begun cancelling war risk coverage for vessels operating in the Gulf, intensifying the crisis and forcing shipowners to halt or reroute traffic. 

What’s happening

  • At least 150 vessels, including oil and LNG tankers, are currently stranded around the Strait of Hormuz after multiple ships were hit amid rising regional tensions. 
  • Four tankers have been confirmed damaged, and at least one seafarer has been killed, prompting widespread safety concerns among crews and operators. 
  • The strait—responsible for transporting roughly one-fifth of the world’s oil supply—has seen traffic grind to a near standstill. 

Why it matters

The disruption is already rippling through global markets. Oil and gas prices have surged as uncertainty grows around supply stability. Shipping costs are expected to rise sharply as vessels take longer, more expensive routes or remain anchored indefinitely.

Broader implications

  • Energy markets face heightened volatility as supply chains tighten.
  • Global trade could experience delays across multiple sectors, from manufacturing to consumer goods.
  • Maritime insurers may reassess coverage across other high‑risk regions, potentially reshaping global shipping patterns.


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