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Happy April fuels' day? B.C.'s carbon tax hike kicks in

Last Updated Apr 1, 2019 at 12:38 pm PDT

(iStock Photo)
Summary

British Columbians will see fuel costs jump as new Carbon tax measures come into effect

Prices in Metro Vancouver are already hovering around $1.60 per litre

METRO VANCOUVER (NEWS 1130) – No, it’s not an April fuels day joke, British Columbians will see fuel costs jump as new carbon tax measures come into effect.

After weeks of near-record breaking per litre costs, prices are going up again on Monday.

The carbon tax is increasing from $35 per tonne of Co2, or equivalent emissions, to $40 per tonne. That adds about one cent per litre at the pumps.

Gas prices affect the cost of everything, from the food you eat to the clothes you wear.

Last year, B.C.’s carbon tax jumped from $30 to $35 per tonne of CO2.

Gas Buddy.com’s petroleum analyst Dan McTeague is predicting near record-breaking prices over the next few weeks.

“Looks like the $1.60 to $1.65 will be the new normal,” McTeague adds.

He says people should expect to see prices climbing until Easter.

“At that point, I think we might get some relief from one or two of the refineries south of the border which might be coming back online.”

As refinery’s switch to summer fuels, he says it could add another 5 cents to the per litre cost.

Ottawa’s new carbon tax also comes into effect in Saskatchewan, Manitoba, Ontario and New Brunswick on Monday, where drivers there will be paying between 4 and 5 cents more per litre.

Prices in Metro Vancouver are already hovering around $1.60 per litre.