April 15 (UPI) -- Prime Minister Mark Carney of Canada has announced a temporary suspension of the federal fuel excise tax amid ongoing instability in the oil market due to war in the Middle East.
Carney announced the move Tuesday during a press conference in Ottawa, stating the tax will be suspended from Monday through the end of Labor Day on Sept. 7.
"We all know that because of the war with Iran fuel prices have increased sharply around the world including here in Canada. So we're taking more action to help build that bridge over short-term pressure," the Liberal leader said.
The fuel excise tax is 10 Canadian cents per liter of regular gasoline and 4 Canadian cents per liter on diesel, equivalent to about 28 U.S. cents a gallon for gasoline and 11 U.S. cents a gallon for diesel.
Related
