Search results
Results from the WOW.Com Content Network
In March 2022, the Alberta government announced it would suspend the collection of the fuel tax starting April 1, as a way to fight the rising cost of fuel. [19] In December 2023, the Alberta government announced that with lower oil prices, the fuel tax would be phased back in after Dec. 31, 2023. [20]
In October 2023, Prime Minister Justin Trudeau announced that the federal government was granting a carbon exemption on heating oil from 2023 through 2027 because the price of heating oil increased by 75% in 2022. Natural gas, which is used by better-off households, now costs one-half to one-quarter the cost of heating oil. [57]
Trump also struck a deal with Canada to delay his 25% tariffs on Canadian goods (10% on oil and natural gas) for a month. But 10% tariffs on China are expected to go into effect Feb. 4.
In August 2023, Canada's inflation rate reached four percent, primarily driven by increased gas prices. [35] Food inflation rates reached 8.5 percent. [36] In November 2024, Canada's annual inflation rate rose to 2.0% in October, exceeding analyst expectations and marking the first increase since May 2024. [37]
After averaging a record 12.9 million barrels of crude oil per day in 2023, American oil production topped 13.4 million barrels per day in August 2024, according to the Energy Information ...
Negotiations with Canadian Prime Minister Justin Trudeau are ongoing. ... A tariff could result in a substantial jump in fuel prices for American consumers. ... from Canada to the U.S. in 2023 ...
That seasonal price impact could add another 30 cents per gallon, putting the total increase in gasoline prices at $1 per gallon if the tariffs remain in place at the onset of spring, Fitzgerald said.
The Greenhouse Gas Pollution Pricing Act [a] (French: Loi sur la tarification de la pollution causée par les gaz à effet de serre) is a Canadian federal law establishing a set of minimum national standards for carbon pricing in Canada to meet emission reduction targets under the Paris Agreement. [2]