Power & Politics Gas prices keep rising. Is it time for Ottawa to offer relief?
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Apr 2, 2026 Flavio Volpe, president of the Automotive Parts Manufacturers Association, warns that assembling partly built Chinese EVs in Brampton could weaken local suppliers and jobs. Dan Albas, Conservative MP and transportation critic, urges a federal gas tax holiday and proposes cancelling the ALTO high-speed rail to fund relief. Daniel Tisch, CEO of the Ontario Chamber of Commerce, makes the economic case for high-speed rail and its job and growth benefits.
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Global Oil Shock From Strait Closure
- Rory Johnston says the Iran war and Strait of Hormuz closures caused the worst energy shock in modern oil markets, cutting roughly 13–20% of global supply.
- He notes IEA reserve releases and sanction loosening only dent the deficit, keeping inventories low and refined products, especially diesel and jet fuel, soaring.
Geopolitics Has Shifted Market Risk
- Johnston calls Trump's 'go get your own oil' stance a de facto end to the Carter Doctrine that cedes control of the Strait of Hormuz to Iran and raises geopolitical risk.
- He warns persistent closures make the market riskier long-term, shifting focus to non-OPEC producers like Canada and Guyana.
Suspend Fuel Taxes To Ease Affordability Now
- Dan Albas urges suspending federal fuel taxes for the rest of the year to provide immediate affordability relief at the pump.
- He recommends funding the holiday by cutting “wasteful spending” such as the ALTO high-speed rail and gun buyback programs.