Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

5 Things to Know Today: TSX Hits Record High as Oil Crashes Below $80



 August 5, 2026

1. Gas prices are set to drop again

Oil cratered to around $80 a barrel (Brent) today after President Trump called off a planned strike on Iran, easing fears of a Strait of Hormuz disruption. That's a sharp drop from levels above $95-100 just two weeks ago.

What it means for you: Expect pump prices to keep sliding over the next few days as the drop works its way through supply chains. Worth holding off on a fill-up if you can.

2. The TSX just hit an all-time high

Toronto's benchmark index jumped 1.63% to close at 35,801.59, a fresh record, riding the same wave of Middle East de-escalation and strong US earnings from companies like Palantir and Caterpillar.

What it means for you: If you hold Canadian equity funds in your RRSP or TFSA, today's close is good news — but records like this are also a natural point to check you haven't drifted too heavily into any one sector.

3. The loonie is holding steady near 1.41

USD/CAD sat around 1.4072 today, little changed even as oil — usually a big driver of the loonie — swung sharply lower.

What it means for you: Cross-border shoppers and US travellers are still paying roughly the same premium they have for weeks. No relief yet, but no further slide either.

4. The clock is ticking on the US tariff deadline

We're now 14 days out from the August 19 deadline, when a 50% US tariff on Canadian wine, dairy, furniture, and hockey gear is set to take effect if no deal is reached.

What it means for you: If you're planning any cross-border purchases in these categories, or run a business that imports or exports them, this is the week to start planning around either outcome.

5. Gold is holding near record territory

Gold sat near $4,075-4,130 today, staying close to record highs even as riskier assets rallied — a sign investors haven't fully let go of their hedges despite the calmer mood.

What it means for you: If you hold gold ETFs or bullion in a TFSA, this has been a strong stretch. Just don't mistake a hedge for a growth position when rebalancing.

This post is for general information only and isn't financial advice. Talk to a licensed advisor about your own situation.

Labels:

Comments

Post a Comment