New federal regulations to reduce greenhouse gas emissions from gasoline and diesel will cost Canadians up to 13 cents more per liter per pump by 2030.
An analysis of the impact of the clean fuel regulations released on Wednesday estimates that they will reduce about 18 million tonnes of greenhouse gas emissions by 2030, or 5 to 6 percent of what Canada needs to eliminate to meet its current targets. The year.
It will cost between $ 22.6 billion and $ 46.6 billion to comply with refineries and other fuel suppliers, or an average of about $ 151 per tonne of emissions.
The impact will cut $ 9 billion of Canada’s GDP and increase gasoline prices by between six and 13 cents a liter by 2030, when the full scope of the regulations goes into effect.
This could cost between $ 76 and $ 174 per vehicle or up to $ 301 per household.
The analysis says there will be a disproportionate cost impact on lower-income families, unmarried mothers and the elderly, who are more vulnerable to energy cost fluctuations and less likely to be able to afford alternatives such as electric vehicles.
This Canadian Press report was first published on June 30, 2022.
