Achi news desk-
EDMONTON –
Gas prices are expected to rise in Alberta next month, with the provincial government fully restoring its fuel tax following a slump in oil prices.
Finance Minister Nate Horner says the fuel tax for gas and diesel will be 13 cents per liter starting April 1, an increase of four cents.
Under the province’s Fuel Tax Reduction Program, the tax can be partially or fully deferred or reinstated, depending on oil prices.
Fuel tax rates are adjusted quarterly based on the average price per barrel of West Texas Intermediate benchmark oil.
Horner says Albertans will continue to pay some of the lowest fuel prices in the country even after the higher rate takes effect.
He says the tax rate will drop back if oil prices hit US$80 a barrel or higher.
This report was first published by The Canadian Press on March 21, 2024.
