Tuesday, May 24, 2022

Why Canada Has Highest Gas Prices - Taxes and Carbon Taxes

 "...All told, a Canadian driver can expect to pay between 30 and 50 cents in taxes for every litre of gasoline. It’s part of why – even as record-breaking fuel prices similarly sweep the United States – Americans are still filling up their tanks for far less than what Canadians pay. On Thursday, the absolute lowest price for a litre of 87 octane in Surrey, B.C. was $2.26, according to GasBuddy.com. Only a few metres away in Washington State, gas could be had for the equivalent of US$4.56 per gallon, or C$1.54 per litre. Alberta – whose low provincial fuel taxes already gives them the cheapest gas in the country – was one of the first to mandate tax relief in response to high fuel prices. On April 1, Alberta announced that it would be foregoing a 13 cent per litre provincial tax until at least July. The decision left a huge hole in Alberta revenues (the tax holiday saves Albertans roughly $100 million per month) but it’s been more than offset by the tidal wave of new revenue being brought in as a result of the ongoing oil boom. Alberta is still on track to post the first balanced budget by any provincial government since the onset of the COVID-19 pandemic..."

https://nationalpost.com/news/canada/first-reading-maybe-canada-could-stop-charging-the-hemispheres-highest-fuel-taxes

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