As we kick off a new year Alberta will be suspending the provincial fuel tax as of January 1 for six months as previously announced by the province saving Albertans 13 cents per litre on diesel and gasoline.
President of Treasury Board and Minister of Finance Travis Toews said that while Alberta’s economy has recovered strongly, Albertans are still struggling to heat their homes and feed their families.
'We want to help. Reducing the cost of fuel benefits all Alberta drivers. It becomes more affordable to transport goods and products, to go to work and visit loved ones, to run errands and drive children to school," he said.
By the province's calculations, if you drive a pickup truck and fill up once a week, you’ll save about $440 on average in the next six months. If you drive a car or an SUV, you’ll save anywhere from $160 to just over $300. In addition, the province said that since the fuel tax relief started in April of 2022 Albertans have seen approximately $850 million in fuel tax savings
On July 1, 2023, the program will return to the current system of providing fuel tax relief based on the price of West Texas Intermediate (WTI) oil. This system will then remain in place permanently.
After June 2023, fuel tax relief will continue to be reviewed on a quarterly basis. If average oil prices are above $80 per barrel, the fuel tax relief will be extended or reinstated in stages.
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