The Ontario gas tax will be reduced by 5.7 cents a liter next Friday Pi News

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Experts say a cut in the provincial gas line promised by Premier Doug Ford ahead of the June election will take effect Friday and experts say it could offer some relief to drivers facing skyrocketing pump prices, but the long-term benefits to consumers are unpredictable.

The government passed legislation this spring to reduce the gas tax to 5.7 cents per liter and the fuel tax, which includes diesel, to 5.3 cents per liter for six months.

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These changes will take effect from July 1 to December. Effective until 31, the government has set a price of $ 645 million.

Regular fuel prices are at or near $ 2 per liter in cities across the province.

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Roger McKnight, chief petroleum analyst at N-Pro International, says the upcoming gas tax cut is an outdated “band-aid solution” but consumers may reap some benefits in its early days.

As of Thursday afternoon, McKnight estimates Friday prices at Ontario pumps will drop 11 cents a liter to an average of 1.929 a litre.

© 2022 Canadian Press

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