The provincial government plans to propose legislation in its 2023 Fall Economic Statement that will extend the gas and fuel tax rate cuts until June 30, 2024, resulting in an average savings of $260 per household since the tax cuts were initiated back in 2022.
Premier Doug Ford emphasized that this gas tax cut is a way to alleviate costs during ongoing inflation.
Ontario will continue with reducing the gasoline tax by 5.7 cents per liter and the fuel tax by 5.3 cents per liter, aiming to maintain the 9-cent per liter tax rate on gasoline and diesel until mid-2024.
The government’s objective is to support households and businesses by implementing various measures, including license plate renewal fee refunds, eliminating local transit fares, increasing the minimum wage, and providing tax credits for seniors.
Written by Joseph Goden
