Manitoba Government to Evaluate Potential Gas Tax Reduction Over Next Month

Manitoba Premier Wab Kinew announced that his government will spend the next month evaluating whether to reduce the provincial gas tax, with the decision based on trends in gas prices. Kinew made the statement during an interview on Thursday with CBC Manitoba Information Radio host Marcy Markusa. U.S.

and Iran on oil and gas prices. U.S. and Israeli attacks on Iran that began on February 28. Iran restricted ship traffic in the Strait of Hormuz following the attacks, through which one-fifth of the world's oil is shipped.

This restriction has contributed to a significant supply shortage in the global energy market.

2024, Manitoba eliminated its 14-cents-per-litre gas tax to address rising inflation, resulting in approximately $340 million in lost provincial revenue.

5 cents per litre. Kinew first mentioned the possibility of another reduction during question period on Tuesday, stating that the government had cut the tax once and might do so again. >"Does the price of oil come down right away, and then people get help at the pump?

" — Wab Kinew (Cbc) Gas prices across Canada have increased due to the conflict. 80 per litre on Thursday morning. The Strait of Hormuz remained closed on Thursday despite Iran's statement that it would allow resumption of shipping during the ceasefire period.

expressed hope that the ceasefire would endure but noted uncertainty about its duration.

Iran's restriction on the strait has led to higher fuel costs for consumers and businesses in Manitoba and across Canada. The provincial government plans to observe price developments over the next month before deciding on any tax adjustment. Canada's federal leaders have also addressed rising gas prices.

Prime Minister Mark Carney stated that his government is monitoring prices closely and will provide more details in an upcoming fiscal update. Conservative Leader Pierre Poilievre proposed pausing federal taxes on gas and diesel for the remainder of the year.