The PC critic for Finance is calling on the provincial government to review gas taxes in an effort to lower the cost for residents.
Tony Wakeham says a recent report from the Canadian Taxpayers Federation shows that taxes account for 35 per cent of the province’s gas prices.
The Taxpayers Federation has also shown that Newfoundlanders and Labradorians are also paying five cents per litre of tax on tax, the highest level in the Atlantic provinces.
Historic high gas prices threaten to affect tourism, businesses and families, according to Wakeham and it’s time for government to review provincial taxes to make gas more affordable.
The provincial PC Party has released a breakdown of taxes charged on a litre of gas in Newfoundland and Labrador.
Gasoline tax and fee breakdown:
- 14.5 cents per litre provincial gas tax
- 8.84 cents per litre carbon tax
- 12.4 cents per litre provincial sales tax
- 10 cents per litre federal excise tax
- 6.2 cents per litre federal sales tax
- 4.7 cents per litre of tax on tax.
In addition, there is a 5.0 cent per litre increase due to Come By Chance shutdown
On the purchase of 60 litres of gasoline, Newfoundlanders and Labradorians are paying $91.92, $33.98 of which is tax.