A cut to the provincial gas tax promised by Premier Doug Ford before the June election takes effect on Friday and experts say it may offer some relief to drivers facing sky-high pump prices, but the long-term benefits to consumers are unpredictable.
As of Thursday afternoon, McKnight calculated that prices drops at Ontario pumps should be around 11 cents per litre on Friday, bringing prices to an average of 1.929 per litre. “My advice to consumers when they see the price on Friday is to enjoy it, but I don’t know how long it will last,” McKnight said. “Politicians have no control over the price of crude or the geopolitics that’s happening way outside our borders.”
Odd… nothing at all has happened with the prices in my home town. They’re exactly what they were on Thursday.
All this is going to do is boost demand and prolong the period of high prices, while reducing government revenues.
Gas tax cut - rents skyrocket - car new housing units
Rents skyrocket!
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