The government of Ontario has extended its concessions on the gas and fuel tax rate to June 30, 2024, marking the second extension since the law was first implemented on July 1, 2022. The province’s Premier, Doug Ford, has confirmed that the legislation aims to sustain the reduction in the prices of fuel at the pump by 5.7 cents per litre.
In his address during an announcement at a gas station in Etobicoke, Ford threw light on the difficulties faced by citizens due to the inflating costs of gas and groceries, highlighting the need to lend a helping hand to people in this difficult clime.
According to estimates provided by the Progressive Conservative government, the tax deduction has aided the average household by saving approximately $260 annually since its inception. The gas tax discount has been extended not only to gasoline but also to diesel, reducing diesel prices by 5.3 cents per litre.
In the absence of the tax cut, Ontario’s tax rate for gas and diesel would stand at 14.7 cents, the government pointed out.
Ford, on his podium, stressed the need for Ottawa to trim down the “awful, awful” federal carbon tax, holding it responsible for exacerbating woes at the pump. He commented, “If the federal government removed the carbon tax solely from the pumps, that’s a further 14 cents in savings.”
The premier expressed discontent over Prime Minister Justin Trudeau’s recent announcement of freezing the home heating oil tax for three years in Atlantic Canada, terming it as unequitable. Critiquing this move, Ford said, “Ninety-five per cent of people in Ontario do not heat their homes or businesses with oil. It’s profoundly unfair.”
The government’s decision to extend the gas tax cut was disclosed preceding the release of Ontario’s fall economic statement, which is scheduled for release on Thursday.