British Columbia’s public auto insurer will be giving drivers a one-time rebate to ease some pressure as gas prices hit a record high, Premier John Horgan
announced March 25.
Motorists will receive a $110 gas rebate if they had a basic auto insurance plan with the Insurance Corporation of British Columbia (ICBC) in February, while commercial customers will receive $165 because they usually incur higher expenses, according to a B.C. government
news release.
The rebate, totalling more than $395 million, comes at a time when a global gas price increase and other pressures—including Russia’s invasion into Ukraine—are adding to British Columbians’ living costs.
“People are facing increased costs through no fault of their own, but as a chain reaction that started with Putin’s illegal war in Ukraine,” Horgan said. “As a result of our work to fix ICBC, we’re in a position to put money back in people’s pockets to help a little with these increased costs.”
The announcement came as gas prices hit a record high of 214.9 cents per litre in some Metro Vancouver stations two weeks ago,
reported CTV News.
Eligible ICBC customers will receive their rebate starting in May if they have registered for direct deposit with ICBC or a refund to their credit card. All others will receive cheques in June.
“This rebate is going to help a lot of people in this province,” said Mike Farnworth, B.C. minister of public safety and solicitor general. “This is another opportunity to put money back in the pockets of the hardworking people who make this province a great place to live.”
However, the
B.C. Liberal Caucus said the one-time rebate is not enough to address the heavy economic burdens B.C. residents experience.
“While I’m glad BC families will be getting some relief, this is too little, too late. As the cost of living continues to soar, families deserve a permanent break, let’s end the tax grab and make the carbon tax revenue-neutral again, and return $$ to BC residents where it belongs,” Kevin Falcon, Leader of the B.C. Liberals,
said in a Twitter post on Friday.
Liberal MLA Peter Milobar also called the policy a “broken promise” from the NDP government, saying that gas prices in B.C. remain higher than its neighbouring province of Alberta.
“[People] wanted a real plan today to deal with sky high prices at the pump. We didn’t get that and will continue to pay almost 50 cents per litre more than AB. Rebate cheques announced today won’t be out till late May,” he said in
a Twitter post.
In early March,
Alberta announced a tax cut by 13 cents per litre on gasoline, diesel, and marked fuel, which will enter effect on April 1. The province will also provide a $150 electricity bill rebate to o
ver 1 million Albertan households and businesses, an Alberta government press release said.
