By Canadian Press

B.C. drivers getting one-time rebate to help with rising fuel prices

Mar 25, 2022 | 11:13 AM

VICTORIA — Premier John Horgan says drivers in British Columbia will get a one-time relief rebate to help deal with the cost of rising gas prices caused by Russia’s invasion of Ukraine.

Horgan says the provincial government approached the Insurance Corporation of B.C. to provide drivers who have a basic auto insurance policy with a $110 rebate and commercial drivers with $165.

He says a one-time payment is a better approach than cutting fuel taxes because the price will only increase again at the pumps. 

Horgan says the corporation is in a financial position to cover the cost of $395 million rebate.

The insurance corporation is forecast to have annual net income of $1.9 billion for the 2021-22 fiscal year ending March 31. 

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Public Safety Minister Mike Farnworth says drivers can expect the rebate to start rolling out in May. 

This report by by The Canadian Press was first published March 25, 2022. 

The Canadian Press