Albertans will start to save more on fuel in new year
Albertans can expect a little bit of relief at the pumps in the new year.
On Tuesday, the provincial government announced that they will suspend the full provincial fuel tax for six months. Albertans will save about 13 cents on full until June.
“These are meaningful savings that will have a real impact on Albertans’ finances. For example, 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,” said President of Treasury Board and Minister of Finance Travis Toews.
“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.”
On July 1, the program will return to the current system, which provides relief based on the price of West Texas Intermediate (WTI) oil. This system will then remain in place permanently.
“Since April of this year, when we first implemented the fuel tax relief program, Albertans have seen about $850 million in fuel tax savings,” Toews added.
“The measure is just one of a number we’ve brought forward to help Albertans deal with the higher cost of living. It’s relief we’re able to provide thanks to our strong fiscal situation, which is helping us fulfil our commitment to make life more affordable.”