Alberta gas prices expected to rise further with fuel, carbon tax increases coming in April
CTV
Albertans will have to dig a little deeper into their wallets with two separate tax increases set to come into effect at the start of April.
Albertans will have to dig a little deeper into their wallets with two separate tax increases set to come into effect at the start of April.
The provincial fuel tax that was suspended from late 2022 through all of 2023 is expected to be fully re-implemented as oil prices sit below $80 USD a barrel.
The province bases the tax on the cost of West Texas Intermediate per barrel averaged over a 20-day trading cycle before the 15th of the month.
With it trading below $80US a barrel, the remaining four cents a litre will be reinstated, if that average remains below the benchmark.
“Being that it's been under $80, then we would (put it back),” said Premier Danielle Smith.
“But remember, it's going to be a permanent program, so that in the event that oil prices go up again about $90, we take the tax off completely. So that's the way the program was designed, is that when it's in that 80 to 90 zone, we want to be able to give a bit of a tax break.”
Smith says her government wants to make the right decision and not rush it with the volatility of the markets.
