After a long period of price stability through the 2024 fall and winter, gasoline prices climbed eight cents mid-January from 1.669 to 1.749. This price increase hits consumer wallets mere months ahead of another scheduled increase to the Canadian carbon tax on April 1st. It remains to be seen if gas prices will continue increasing prior to the carbon tax hike, but either way this will put additional strain on many households already struggling to make ends meet in the midst of persistent high inflation.
With the Federal Government prorogued until March 24th, 2025, there is no chance of a change in tax policy to provide Canadians with essential financial relief before the carbon tax increase.
Liberal party leader hopefuls are trying to distance themselves from the disastrous carbon tax policy they have supported since 2019, with hopes of benefiting from long standing opposition talking points. Even in the unlikely event of a pause or reduction of the federal carbon tax policy, which would reduce the cost of living across Canada, British Columbia still manages a provincial carbon tax that would continue to impact fuel prices regardless of federal policy.
