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Gasoline tax cuts will be implemented throughout Alberta

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Friday brought a marked drop in gas prices for many Alberta states to start a new month.

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Alberta suspended the collection of a state gas tax of 13 cents per liter on April 1. The move is equivalent to a federal carbon tax hike that adds about 2.2 cents to the cost of a liter, a way to help consumers cope with rising living costs last month.

The Canadian Department of Natural Resources fixed Thursday’s retail price for regular gas at 164.2 cents per liter in Edmonton and 167.9 cents per liter in Calgary. By Friday afternoon, the same website was priced at 157.5 cents and 160.0 cents, respectively, but price tracking website GasBuddy shows that individual stations are as low as 148.9 cents in Edmonton and 155.6 cents in Calgary. I did.

Prime Minister Jason Kenny celebrated the change at a gas station in Calgary, where prices fell 11.3 cents per liter.

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“The Alberta government is taking real action to save people’s money, put jingles in jeans, and hold more of their hard-earned cash,” he said. ..

NDP energy critic Kathleen Ganley, who sought an independent audit to confirm that the savings from the gasoline tax hike were passed on to consumers, said Friday that all Albertans saw prices at pump prices. He said he wasn’t.

“I get a message every morning from Albertan, who hasn’t seen a price cut at a local gas station. One of the things we all know about petrol prices is that they’re on the move.” She said.

“Check if this price drop lasts for more than a few days.”

Treasury Minister Travis Touz said the government will monitor the situation to make sure savings are heading for momentum.

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“In this highly competitive market, there’s good reason to believe that retailers actually pass on their savings,” he said.

As long as West Texas Intermediate crude is above $ 90 a barrel, the petrol tax will be suspended until at least the end of June. It is then adjusted based on the WTI price sliding scale.

Kenny estimates that if the gasoline tax remains suspended for a year, it will save $ 1.4 billion.

WTI prices were around $ 100 a barrel on Friday, although they fell by nearly $ 8 in the days before the petrol tax hike.

Toews said the recent decline in WTI did not contribute to the current price of the pump.

“The fuel sold today was in stock,” he said. “Therefore, the fuel sold this morning today has nothing to do with WTI price fluctuations.”

Canada’s federal carbon tax has been raised to $ 50 per ton as of April 1. The increase was intended by Kenny and other Western Prime Ministers, but in a letter on Friday, Natural Resources Minister Jonathon Wilkinson reiterated Ottawa’s continued carbon prices.

“The truth is that 94 percent of the price of gas has nothing to do with the price of pollution,” he writes. “Most of the price increases that Canadians are currently seeing on pumps are caused by rising oil prices, mainly due to Russia’s illegal invasion of Ukraine.”

The petrol station on 109th Street in downtown Edmonton is one day away from March 31st to April 1st, 2022. April 1, 2022 is the time when the federal carbon tax will come into effect. It also indicates that Alberta’s gasoline tax collection of 13 cents per liter has been suspended.David Bloom Photo jpg

Gasoline tax cuts will be implemented throughout Alberta

Source link Gasoline tax cuts will be implemented throughout Alberta

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