Gasoline prices across metropolitan Toronto are set to hit their highest level in six months on Monday. The federal carbon price, also known as the carbon tax, is set to increase by $15 a tonne on April 1, bringing the total price to $80. dollar per ton. In this way, the carbon tax increases the price of gasoline by 3.3 cents per liter, while the price of diesel increases by 4.1 cents per liter.

According to experts, in this regard, the price of gasoline at gas stations is expected to increase to 162.9 cents per liter. This figure is higher than the previous highest price of 160.9 cents per liter, which was recorded on March 21. Also, the price of gasoline in the Toronto metropolitan area was 173.9 cents per liter in September 2023, which was associated with a decrease in these six months, but will increase again.

Motorists aren't expected to breathe a sigh of relief anytime soon, as prices are set to rise as much as 10 cents in the next two weeks as refineries switch from winter to summer gasoline production. Along with the federal carbon tax hike, quarterly rebates Canadians will also increase, now known as the Canada Carbon Rebate. Thus, a family of four in Ontario can receive $280 in April, July, October and January.

news source