Prices climb at the pumps as provincial fuel tax partially returns
Alberta’s fuel tax has been partially reinstated to gas stations across the province, as oil dipped below $90 a barrel for West Texas Intermediate.
On Saturday, prices climbed 4.5 cents per litre, with stations in Calgary advertising regular fuel for $1.56 to $1.64 per litre.
Premier Jason Kenney says Alberta has it better than most provinces.
“On average, we are 16 cents lower than Saskatchewan, 28 cents lower than Manitoba and 62 cents lower than our West Coast friends in B.C.,” said Kenney.
Relief for the fuel tax came in April, when oil was trading around $120 per barrel.
With a significant drop in the price of oil, Kenney says the province needs to return the tax to stay out of debt.
“When the province started to benefit from much higher oil prices, we said Albertans should see some immediate benefit from that,” said Kenney.
“A $40 change in WTI is a $20-billion difference in our fiscal capacity. We don’t want Alberta to suddenly slip back into the red. We got out of deficits for the first time in 14 years and we’ve got to stay there.”
The remaining 8.5 cents will be added to the price of gas when oil is below $80 a barrel.
The fuel relief measures are analyzed quarterly, so the earliest it could return would be the end of the year, if oil drops even more.
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
'Sophisticated' cyberattacks detected on B.C. government networks, premier says
There has been a "sophisticated" cybersecurity breach detected on B.C. government networks, Premier David Eby confirmed Wednesday evening.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
Biden says he will stop sending bombs and artillery shells to Israel if they launch major invasion of Rafah
U.S. President Joe Biden said for the first time Wednesday he would halt shipments of American weapons to Israel, which he acknowledged have been used to kill civilians in Gaza, if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah.
Rookie goalie Arturs Silovs to start for Canucks in Game 1 vs. Oilers
Rookie goalie Arturs Silovs will start in net for the Canucks as Vancouver kicks off a second-round series against the Edmonton Oilers Wednesday night.
Nijjar murder suspect says he had Canadian study permit in immigration firm's video
One of the Indian nationals accused of murdering British Columbia Sikh activist Hardeep Singh Nijjar says in a social media video that he received a Canadian study permit with the help of an Indian immigration consultancy.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Quebec premier defends new museum on Quebecois nation after Indigenous criticism
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.