Ontario Gas Prices To Rise By 5 Cents A Litre Next Week
Ottawa's carbon tax will come into effect next week, raising Ontario gas prices by 5 cents a litre.
Ontario gasoline prices will rise next Monday as Ottawa’s new carbon tax comes into effect on April 1st, 2019. The cost of natural gas in Ontario will increase by 3.9 cents per cubic metre due, which will rise to 5.9 cents in 2020, 7.8 cents in 2021 and finally 9.8 cents in April of 2020. According to GasBuddy analyst Dan McTeague, the federal carbon tax will cause gas prices to rise dramatically in Ontario as of April 1st.
McTeague cautioned to Narcity that although the Ontario government stated in their news release that the carbon tax will increase gasoline prices by 4.42 cents per litre, with HST, the price will come to 5 cents a litre as of next Monday.
Although the price of gasoline will rise due to the change, the government insists the initiative will ultimately benefit Ontario taxpayers by officially removing the province’s cap and trade program. The program was instated to restrict the amount of greenhouse gas emissions that businesses could emit in order to help combat climate change and reward companies that work to reduce their gas pollutions.
Hello Lilly. On Monday the average price of gasoline will rise 5 cents a litre across Ontario as Ottawa’s carbon tax takes effect. The actual figure that seems to be lost on Govt officials is that while the carbon tax is 4.42 cts/litre, with HST it’s actually 5 cts a litre https://t.co/YyjBPvCgfw— Dan McTeague (@GasBuddyDan) March 25, 2019
"This closes the book on the cap and trade carbon tax era in Ontario. But in one week, the federal government will impose a brand-new job-killing carbon tax, punishing the hardworking people of Ontario," explained Premier Doug Ford.
"Our government remains part of a growing coalition of provinces across Canada that oppose this cash-grab, which raises the cost of essentials like home heating and gasoline."
Even before the cap was first installed back in January of 2018, Canada had already been pretty successful in reducing it's pollution levels, reducing emissions by 22 percent from 2005 to 2016.