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Monday, October 19, 2026Updated 22:56 UTC

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Canada's Inflation Rises to 3.1% as Fuel Oil Prices Jump 58%

Source: OilPrice.com · Oct 19, 2026 16:30 UTC

Oil refinery towers and pipes with a city skyline in the distance — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Gasoline and fuel oil pushed Canada's annual inflation rate to 3.1% in September, up from 3.0% in August, as the war in the Middle East kept fuel prices high, Statistics Canada said on Monday. Gasoline prices rose 27.8% from a year earlier, up from 22.8% in August, despite the switch to the cheaper winter blend. Fuel oil and other fuels rose 57.8%, up from 43.7%, with the heaviest burden in Atlant

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