-- Prime Minister Mark Carney says the federal government is aware of the high gas prices Canadians are facing, and amid uncertainty over how long the war in Iran may persist, he's "looking at" ways to help, CTV News is reporting Wednesday.
"What can we do to help cushion the blow for Canadians?" Carney asked at an event in Brampton, Ont. "That's something we're looking at."
Carney made this comment in response to a reporter asking what he'd say to Canadians facing around $2 per litre at the pumps.
The prime minister said he knows Canadians are asking themselves every day when they go to fill their tanks or heat their homes, why they feel as if they're bearing the costs of the Iran-U.S. war. Carney said "the short answer is because there's a global market."
"Those countries that have lots of oil and gas see their prices go up alongside with those who don't have that oil and gas. It's the same shifts up in prices in the United States as well," Carney continued.
Carney indicating that the Liberals are considering ways to offer consumers relief, comes on the heels of Conservative Leader Pierre Poilievre calling for gas taxes to be scrapped for rest of year. It also comes ahead of the spring economic update expected in the coming weeks.
The prime minister offered no additional detail on what help his government may have in mind, or be considering, nor the timeline for when any measures may come into effect.
Today Poilievre followed up on his call last week, by publishing a formal letter he sent to Carney. In it, he asks the PM to suspend the federal fuel excise tax and the GST on gas and diesel, and use the "massive windfall" the federal government is experiencing due to fuel costs, to fund it.
(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)