Keeping Costs Down on Gas and Fuel

To continue to help families and businesses in Barrie-Innisfil and across Ontario keep costs down, the Ontario government is introducing proposed legislation through its spring 2024 Budget that would, if passed, extend the temporary gasoline and fuel tax rate cuts until December 31, 2024.

This would save Ontario households $320 on average over the two and a half years since the tax rate cuts were first introduced.

Total savings to the people of Ontario have totalled over $2.1 billion.

Since July 1, 2022, Ontario temporarily lowered the gasoline tax by 5.7 cents per litre and the fuel tax by 5.3 cents per litre. The government is now proposing to extend the rate cuts so the tax rate on gasoline and fuel (diesel) would continue to remain at 9 cents per litre until December 31, 2024.

The government will provide an update on its plan for Building a Better Ontario through the 2024 Budget, which will be released on March 26, 2024.

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