Gas prices turning into provincial election issue
Posted Apr 11, 2011 02:14:16 PM.
This article is more than 5 years old.
Ontario’s opposition parties hope to make an election issue out of rising gasoline prices.
A study from CIBC World Markets warns the near 25 per cent hike in gas prices since late 2010 will cost Canadians an extra $12 billion at the pumps this year.
Progressive Conservative Leader Tim Hudak won’t make any specific promises, but says he’s looking to give people a break and will consider options such as removing the HST from gasoline.
Finance Minister Dwight Duncan says removing the HST or reducing the 14.7 cents a litre flat provincial tax would only make room for the oil companies to raise prices. Duncan also says the province’s revenues from gasoline drop when prices rise because consumption also drops with higher prices.
NDP Leader Andrea Horwath says the province should regulate gasoline prices so consumers aren’t hit with huge variations overnight.
