Drivers in Ontario are about to be paying a lot less for gas starting July 1

If you own and drive a car, you’re going to able to see significant savings very soon at the gas pump.

The Ontario government announced it will cut the gas tax by 5.7 cents per litre and the fuel tax by 5.3 cents per litre starting July 1. This tax cut will remain in effect until December 31, 2022.

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Ontario drivers are currently paying 14.7 cents per litre on gas taxes, so this will add some money back in their pockets. According to the government, a family in Southern Ontario who owns and regularly drives two vehicles would save around $815 in 2022.

Even if you don’t own a car, this tax cut could mean reduced costs for taxis, food delivery and consumer products.

The buck doesn’t stop here. Part of the government’s plan to provide financial relief also includes refunding any licence plate sticker renewal fees paid since March 2020, and any renewal fees going forward, which could save you anywhere from $60 to $120 depending on your location in Ontario.