Albertans Will See A Tax Increase On Natural Gas Prices On October 1St

Retailers were notified of the change through a special notice sent by the province on Sept. 21. READ MORE: Gas prices fall as Alberta stops collecting gas tax The government suspended the full 13 cents per liter tax earlier this year as a way to combat rising fuel prices and linked that relief to the average price of US West Texas Intermediate (WTI) – the benchmark crude for prices oil. The government used the average closing price over a four-week period up to September 15 to determine this price. Over that four-week period, WTI averaged $89.26. Story continues below ad 1:39 As oil prices fall, what’s happening to Alberta’s gas tax relief plan? As Oil Prices Fall, What Happens to Alberta’s Natural Gas Tax Break Plan? – August 5, 2022 Thresholds put in place in the fuel relief program see Albertans earn the full 13 cents per liter when the average price is higher than $90 a barrel. Trending Stories

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Between $85 and $89.99, fuel tax will be set at 4.5 cents per litre. Between $80 and $84.99, Albertans will be charged nine cents per litre. And any price below $80 a barrel will bring back the full tax of 13 cents a liter. “In the first six months of the program, Albertans have saved $630,000,000 in fuel tax relief,” Finance Minister Jason Nixon said in a statement. “Albertans will save over $200,000,000 over the next three months with the fuel tax savings of 8.5 cents per litre,” he added. The NDP believes this tax increase is coming too soon. Story continues below ad “Albertans are finally seeing some relief and the government is clawing at that relief,” said NDP energy critic Kathleen Ganley. The opposition is calling on the government to extend the full savings of 13 cents per liter until the end of January 2023. “Albertans are still struggling with high inflation, struggling with high utility prices. We believe that this little bit of relief they’re seeing at the pumps should go to Albertans instead of the provincial government.” 1:42 UCP Government Eliminates Alberta Fuel Tax UCP Government Eliminates Alberta Fuel Tax – March 7, 2022 © 2022 Global News, a division of Corus Entertainment Inc.