Home Truck News Ontario looks to extend gas, fuel tax rate cuts - Truck News

Ontario looks to extend gas, fuel tax rate cuts – Truck News

The Ontario government is looking to extend gasoline and fuel tax rate cuts to June 30, 2024, proposing legislation through its upcoming 2023 Fall Economic Statement.

Since July 1, 2022, Ontario has lowered the gasoline tax by 5.7 cents per liter and the fuel tax by 5.3 cents per liter. The government is proposing to extend the rate cuts so the tax rate on gasoline and fuel (diesel) would continue to remain at nine cents per liter.

Picture of trucks fueling at a truck stop.
( File photo: Leo Barros)

“We know that every dollar helps, and this gas tax cut is another way we’re keeping costs down for Ontario families and businesses,” Premier Doug Ford said in a press release. “As we continue to deal with lingering inflation, our government is continuing to provide people and businesses relief at the pumps for another six months.”

The Ontario Trucking Association (OTA) welcomed the news. “The announcement to extend fuel tax relief for the trucking industry is a measure that all Ontarians should applaud,” said Stephen Laskowski, OTA president.

“Virtually every item or product Ontarians have at home or their places of business was moved by truck. Fuel is typically the second leading cost behind labor for the trucking industry. Keeping fuel costs down, helps fight inflation.”

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