B.C. Drivers To Receive Rebate

B.C. drivers impacted by high gas prices will soon receive a rebate from the province, according to Premier John Horgan.

B.C. drivers impacted by high gas prices will soon receive a rebate from the province, according to Premier John Horgan.

Horgan announced the $110 rebate alongside Solicitor General Mike Farnworth. The payments will be distributed through the Insurance Corporation of British Columbia to most customers who had a basic auto insurance policy in February.

Commercial ICBC customers will get a rebate of $165 because their gas expenses are often higher.  The amounts were decided based on ICBC's financial standing.

Gas prices hit an all-time high two weeks ago, reaching about 214.9 cents per litre at many Metro Vancouver stations.

Experts have said oil prices, ongoing supply issues, and the Russian invasion of Ukraine are all driving up the cost.

The rebate is expected to cost $395 million. Those who are eligible to receive a payment will get it in May if they are signed up for direct deposit with ICBC. Those who aren't will receive a cheque in June.

Unlike Alberta, the province did not announce a tax cut to further offset gas costs. At the start of the month, Alberta unveiled a plan to reduce tax on gas by 13 cents per litre to ease rising prices in that province.