Saskatchewan’s Official Opposition has proposed a Gas Price Relief Program in light of the soaring prices, caused by the global economic uncertainty surrounding Russia’s attack on Ukraine. Finance Critic Trent Wotherspoon explains that the average price in Saskatchewan is 42 cents per litre more than it was a year ago, which is about $40 more for every fuel-up on a truck. He adds that the the province budgets for revenue at a price of $54.33 U.S. a barrel for West Texas Intermediate, and a barrel of oil is over twice that now.

The NDP is calling for the government to explore options to reduce fuel costs, including temporarily bypassing the fuel tax to soften the impact of rising costs at the pump, and for the increased costs as well for food, clothes, and other basic necessities.

Premier Scott Moe says eliminating the tax on fuel like Alberta’s Premier announced yesterday isn’t something the Saskatchewan government is actively looking at.

“Part of that reason would be Alberta is much more reliant on the oil price than we are in Saskatchewan. We have a much more diversified natural resource based economy.”

Jason Kenney said Monday that when the prices of oil, West Texas Intermediate, is more than $90 a barrel, Alberta’s 13-cents-a-litre fuel tax will be eliminated. When the price of WTI is below $80 per barrel, the fuel tax will be in place.

West Texas Intermediate is over $120 U.S. per barrel this morning (tues)

Kenney also announced a rebate of $150 that will be applied directly to electricity bills.