The BC government started to send out gas price rebates this week, but when drivers receive their money depends on how they pay their insurance with ICBC.
Premier John Horgan announced a one-time rebate of $110 to help drivers offset the costs of sky-high gas prices because of Russia’s invasion of Ukraine.
“People are facing increased costs through no fault of their own, but as a chain reaction that started with [Vladimir] Putin’s illegal war in Ukraine,” Horgan said in a March 25 news release. “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.”
Prices surged past $2 per litre in March, setting all-time records. Prices are still above $2 per litre at many Metro Vancouver gas stations, but the good news is the government started distributing rebate money this week.
Customers who signed up for direct deposit with ICBC will receive the rebate to their bank account starting in May.
Those who paid their car insurance by credit card can expect the rebate on their statement sometime in May or June.
All other customers who paid their car insurance with debit, cash, or a payment plan will receive their rebate as a cheque — starting in June. This also applies to customers whose credit cards expired or changed since they paid their car insurance last.
ICBC says it expects to put all cheques in the mail by the end of July.
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“Regardless of the rebate payment method, all eligible customers will receive a letter confirming when their rebate is issued,” the insurance provider says on its website.
Customers with leased vehicles can receive cheques starting in June after the government has confirmed with the companies leasing the vehicles.
The total cost of the rebate program is expected to total $396 million, according to ICBC.