According to National Post: A service station in North Vancouver sells gas at more than $2 a litre in March 2022. It’s the first time that gasoline in a major Canadian market has ever cracked the $2 mark.
With gas prices continuing to shatter records all across Canada, governments are now beginning to toy with the idea of offering some relief in the form of tax holidays.
Gas prices are being sent into the stratosphere primarily due to a global oil shortage brought about by an oil-thirsty world economy waking up from the COVID-19 pandemic. But taxes still remain one of the biggest single contributors to Canadian fuel prices when weighed against other drivers such as crude oil prices, refining costs and the markup charged by fuelling stations.