Going to the gas station and filling up definitely isn’t one of our favourite experiences, but nevertheless it is one of those things we still have to do to get around or move our products from one end of the country to another.
The price of gasoline is largely determined on the economics of supply and demand. Depending on local or global events, the price of oil changes, and is something that anyone can control.
Sometimes refineries that produce gasoline have to reduce output or shut-down due to mechanical issues causing spikes in price.
There are taxes on gasoline and fuel determined by both the federal and provincial government, with these taxes going towards investments in infrastructure, transportation projects and other various programs.
The B.C. Motor Fuel Tax is placed on fuels to power any internal combustion engines such as your vehicle, boats, recreation vehicles, and any industrial equipment that requires either diesel or gasoline.
The rate applied to clear gasoline by the province is 14.50 cents per litre here in the interior alongside with the 6.67 cent per litre Carbon Tax applied to fuels. For Diesel, the rate applied per litre is 15.00 cents, with a 7.67 cent per litre Carbon Tax.
There are exceptions to the Carbon Tax for agricultural producers currently exempt from paying the Motor Fuel Tax and use coloured gas in equipment. We made this change last year to help our farmers and producers lower costs in their operations or use these savings to reinvest in their operations.
So while fuel costs will continue to be a part of our lives look at ways to reduce fuel use in your daily commute, invest in a fuel efficient car to help you save at the pump and of course consider using B.C. Transit to get around town.
Donna Barnett is the Liberal MLA for Cariboo-Chilcotin.
