July 17th, 2024

Fuel relief being extended in 2024

By Al Beeber - Lethbridge Herald on December 28, 2023.

Herald photo by Al Beeber The price of regular grade gasoline is seen on a sign at the Petro-Canada station on Wednesday along 6 Ave. S.

LETHBRIDGE HERALDabeeber@lethbridgeherald.com

Southern Alberta drivers who have been enjoying a respite at the gas pumps can expect prices to remain somewhat lower in the new year.

The provincial government earlier this month announced its oil price-based fuel tax relief program will be reinstated on Jan. 1 so Albertans can continue to save money at the pump.

The province sets the fuel tax rates quarterly based on the average price of West Texas Intermediate with a rule that limits rate hikes to a maximum of nine cents per litre each quarter.

As a result, Albertans will continue to save four cents per litre on gas and diesel in the first three months of 2024, with the fuel tax applied at a reduced rate of nine cents per litre.

After that, Albertans will save some or all of the provincial fuel tax when WTI prices average $80 per barrel or higher in each quarterly review period,” said Minister of Finance and Treasury Board president Nate Horner in a recent press release.

The province suspended the collection of the fuel tax on gas and diesel effective Jan. 1 of this year.

Albertans haven’t paid the full 13 cents per litre charge since April of 2022.

“Alberta’s fuel tax is a predictable source of provincial revenue, helping to offset the volatility of other revenue sources. As a stable component of Alberta’s revenue mix, the fuel tax helps fund programs and services Albertans rely on while maintaining our significant tax advantage. The fuel tax relief program ensures we’re able to maintain strength in Alberta’s finances while continuing to support Albertans and Alberta businesses,” said the Minister.

According to GasBuddy.com, the lowest price for regular grade gasoline in Lethbridge on Wednesday morning was at Costco – 109.9 cents per litre.

A Gas Plus location on Jerry Potts Boulevard was selling it for 111.9 cents per litre while other stations in the city had regular on for 115.9 cents.

In Calgary, Costco was selling regular for 99.9 cents while other stations had it for as low as 113.9.

In Claresholm, a popular refueling stop for southern Alberta drivers, regular was listed at 121.9 cents at several locations.

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