Feds looking at how to ‘cushion the blow’ as gas prices rise amid Iran war: Carney

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“The question becomes, and this is what the government’s focused on, is how long is this going to persist and what can we do to help cushion the blow for Canadians, and that’s something we’re looking at.”

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The conflict has cut off flows of crude through the critical Strait of Hormuz and shut down energy production across parts of the Middle East. About one-fifth of the world’s oil supply comes through that strait, which connects the Persian Gulf to the Gulf of Oman, and then the Arabian Sea.

Conservatives have called on the Liberals to give Canadians some relief at the pumps by suspending federal taxes on gas and diesel for the rest of the year.

Conservative Leader Pierre Poilievre said last week lifting the fuel excise tax, clean fuel standard and GST surcharges from gas and diesel would save consumers about 25 cents a litre.

That cut, he said, would amount to savings of “about $20 a fill-up, and $1,200 for the average family of four between now and the end of the year.”

This report by The Canadian Press was first published April 7, 2026.

— With files from Sarah Ritchie and David Baxter

Catherine Morrison, The Canadian Press