The Government of Alberta has announced financial relief from high fuel prices today.

“Alberta will end the collection of the provincial fuel tax. This means the price at the pump will drop by $0.13 a litre, putting money back into the pockets of Albertans. This will apply to gasoline and diesel, including marked fuel,” announced Alberta Premier Jason Kenney.

The relief will begin starting on April 1, 2022. Kenney says it  will be based on a sliding scale of WTI (West Texas Intermediate) prices.

“When the price of oil is over $90.00, that's West Texas Intermediate per barrel, the fuel tax will be removed completely. When the price of oil is less than $80.00 per barrel of WTI, the fuel tax of $0.13 per litre will be in full effect and that protects Alberta budget. It protects our fiscal health as a province because as those oil prices go up, so do revenues to the provincial treasury,” explained Kenney.

During the announcement the Premier admonished the Prime Minister for the carbon tax.

“Alberta Government has been urging the Trudeau Liberals to listen to Canadians concerns and address rising inflation. But instead, Ottawa is doing just the opposite with their big April Fools Day joke: yet another hike in their job killing carbon tax on April the 1st that's when the Federal Government will add $0.03 per litre to the cost of gas at the worst possible time,” said Kenney.

The Premier noted that rising fuel costs will make it harder for Albertans to live out their daily lives as well as introduce even more costs for things like groceries. The Premier referred to the relief as the ‘reverse carbon tax’.

“This is a way that indirectly that we can keep the spirit of our carbon tax scrap commitment of spring of 2019,” he added.

Utility rebate expected in the near future

Additionally, supports for Albertans families facing high utility rates were also announced.

“Alberta families who have consumed less than 250 MW hours of electricity—and that's the vast majority, that's almost all households--they'll receive a $150 rebate on their electricity bills for this past winter.  We'll take action as soon as possible to introduce legislation and get this done. It may take a bit of time for Albertans to actually receive the rebate, as we have to work with over 45 energy providers in the province, but rest assured this relief is coming,” said Kenney.