Economy

Albertans will see a tax hike on fuel costs. Oct. 1

Albertans will get again the provincial gasoline tax on gasoline and diesel costs beginning Oct. 1 as retailers are advised by the UCP authorities to start out charging 4.5 cents a litre.

Retailers have been knowledgeable of the change by way of a particular discover despatched by the province on September 21.

learn extra: Fuel costs drop as Alberta stops charging fuel tax

As a technique to fight rising gasoline costs, the federal government suspended the 13-cent-per-liter tax earlier this yr and linked the reduction to the common value of US West Texas Intermediate (WTI) — the benchmark crude for oil costs.

To find out that value, the federal government used the common closing value for the four-week interval ending September 15. Throughout that four-week stretch, WTI averaged $89.26.

Story continues beneath advert


Click to play video: 'As Oil Prices Fall, What Happens to Alberta's Gas Tax Relief Plan?'







When Oil Costs Fall, What Occurs to Alberta’s Fuel Tax Reduction Program?


When Oil Costs Fall, What Occurs to Alberta’s Fuel Tax Reduction Program? – August 5, 2022

Albertans obtain a full 13 cents per liter low cost when the bounds positioned on the gasoline reduction program exceed a median of $90 per barrel.

Between $85 and $89.99, gasoline tax can be set at 4.5 cents per liter. Between $80 and $84.99, Albertans cost 9 cents a liter. Any value beneath $80 a barrel will reinstate the 13 cents per liter tax.

“Within the first six months of this system, Albertans have saved $630,000,000 in gasoline tax reduction,” Finance Minister Jason Nixon stated in a press release.

“Over the following three months Albertans will save greater than $200,000,000 in gasoline tax financial savings of 8.5 cents per litre,” he added.

The NDP thinks this tax hike is coming too quickly.

Story continues beneath advert

“Albertans are lastly seeing slightly little bit of reduction, and the federal government is taking that reduction away from them,” stated NDP vitality critic Kathleen Ganley.

The opposition is asking on the federal government to increase the 13 paise per liter financial savings until the tip of January 2023.

“Albertans are nonetheless scuffling with excessive inflation, scuffling with excessive utility costs. We predict this little little bit of reduction they’re seeing on the pumps ought to go to Albertans as an alternative of the provincial authorities.


Click to play video: 'UCP government scraps Alberta fuel tax'







UCP authorities scraps Alberta gasoline tax


UCP Authorities Abolishes Alberta Gasoline Tax – March 7, 2022

© 2022 International Information, Refrain Leisure Inc.

About the author

admin

Leave a Comment