Ottawa set to extend the pause on federal fuel excise tax: source

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Source: Global News Politics
Date: 2026-09-02 13:20:19.0
Tags: [National, Taxation, Economy, Affordability, Energy]

Federal Finance Minister François-Philippe Champagne is set to announce an extension of the pause on the federal excise tax on gasoline and diesel until at least next year, preventing the return of the tax originally scheduled for September 8, 2026. The initial suspension, which took effect in April, eliminated a federal excise tax of 10 cents per litre on gasoline and four cents per litre on diesel. The decision by the federal government to prolong the tax break comes in response to rising fuel prices driven by ongoing hostilities associated with the Iran war.

Canadian diesel refiners churn out record profit margins, adding pressure on farmers, cost of goods

Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-09-01 11:00:37.0
Tags: [Alberta, National, Energy, Economy, Agriculture, Transportation]

Canadian diesel refining margins reached record highs, topping an all-time high of 119.4 cents a litre on August 19 according to Kalibrate Canada, driven by supply constraints including knocked-out Russian refining capacity and Strait of Hormuz export disruptions. The price spike adds significant operational cost pressures on key sectors like agriculture—where Alberta farms had harvested only 1.1 per cent of major crops by August 18—as well as rail and trucking freight. Facilities such as the Sturgeon Refinery northeast of Edmonton, jointly owned by the Government of Alberta and Canadian Natural Resources Ltd., produce approximately 40,300 barrels of diesel a day, but consumers continue to face retail prices averaging about $2.30 a litre due to fuel selling into global markets.

Canada has leverage in this trade fight, but economists warn it comes with a cost

Source: CBC Politics
Date: 2026-08-30 08:00:00.0
Tags: [National, Trade, Economy, Energy, Resources, Defence]

In response to the Trump administration imposing 50 per cent tariffs on approximately $27 billion worth of Canadian goods, Canadian federal officials and economists are weighing various economic levers, including export taxes and quotas on energy and potash, where Canadian commodities account for 63 per cent of U.S. oil imports and 80 per cent of potash imports. Additional retaliatory options discussed include restricting American access, altering defense procurement such as the F-35 fighter jet program, divesting from U.S. treasury bonds held by Canadian entities valued at $459.6 billion USD, and implementing non-tariff measures like the Digital Services Tax. While Prime Minister Mark Carney and industry minister Mélanie Joly have enacted $28 billion in retaliatory tariffs and paused negotiations over trade disputes, economists warn that aggressive retaliatory measures could inflict greater short- and long-term economic damage on Canada than on the United States.

Danielle Smith rejects taxing oil exports, pushes increased diplomacy efforts with U.S.

Source: Global News Politics
Date: 2026-08-27 00:36:23.0
Tags: [Alberta, National, Trade, Energy, Economy]

Alberta Premier Danielle Smith publicly rejected proposals to tax oil exports to the United States amidst escalating trade tensions, advocating instead for increased diplomatic engagement. Smith emphasized that the United States possesses the economic leverage to severely impact Canada's energy sector and warned that retaliatory trade measures could disrupt critical energy supply chains and harm national economic stability.