Prince Edward Island suspends provincial fuel taxes until January

Premier Rob Lantz has announced that the Prince Edward Island government will suspend provincial fuel taxes until the end of January. The measure will reduce the price of gasoline by 8.47 cents per litre and diesel by 14.15 cents per litre, effective immediately.

Following the full suspension, provincial fuel taxes are scheduled to return at half their normal rate from February 1 through March 31. This provincial move coincides with a federal government extension of the fuel excise tax break, which provides approximately 10 cents of savings per litre of gasoline through the end of January.

Lantz stated that the tax break is intended to provide immediate relief for Islanders and support businesses that drive the local economy.