Gas prices in the Halton Region are expected to rise soon.
This may not come as a shock since, according to a recent GasBuddy press release, gas prices in Canada have already risen by approximately 20 cents a litre – which has resulted in the average motorist paying an extra $9 per fill-up.
However, gas prices are expected to rise again on April 1 when new carbon taxes come into effect.
“The start of the month marks the first day of Ottawa’s carbon tax fee on gasoline, diesel and heating fuels in Ontario, New Brunswick, Manitoba and Saskatchewan,” Dan McTeague, senior petroleum analyst at GasBuddy, said in the release.
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“In addition, British Columbia will be adding 1 cent to its current carbon tax for a total carbon levy of over 9 cents per litre. It won’t be a summer to remember at the pump thanks to myriad tax increases that will cost Canadians more every fill-up.”
Here’s how much gas prices are expected to increase on April 1 as a result of HST/GST being imposed on the carbon tax:
- 5.1 c/L in New Brunswick
- 5.0 c/L in Ontario
- 4.6 c/L in Saskatchewan
- 4.6 c/L in Manitoba
- 1.0 c/L in British Columbia
The release also noted some additional reasons for recent increases.
“In addition to rising carbon taxes, factors pushing up gasoline prices so far this year include a 35 per cent rise in the price of oil since Christmas and a weaker Loonie in comparison to the U.S. dollar.”
Gas prices are expected to continue rising before peaking in the early summer.