As gas prices in Ottawa continue to climb, extending the temporary suspension of the federal fuel excise tax could provide much-needed relief to consumers. The initial suspension, which reduced gasoline prices by 10 cents per litre and diesel by 4 cents per litre, was a response to surging global oil prices.
Since the suspension, gas prices have risen to 195.9 cents per litre, the highest levels since 2022. This increase has placed additional financial strain on commuters, businesses, and families planning summer travel.
Extending the tax suspension would help mitigate these rising costs, providing immediate financial relief to those affected. Given the ongoing global supply pressures and seasonal demand factors contributing to high fuel prices, maintaining the tax break could be a prudent measure to support Canadian households during this challenging period.