Fuel costs add to inflation concerns facing businesses

Surging fuel costs are adding to the ongoing inflation pressures facing businesses.
 
Prices hit a high of 216.9 cents per litre yesterday in Sooke, caused by global uncertainty from the war in the Ukraine.
 
The increase is having a particularly hard impact on couriers and transportation companies, and will lead to higher prices for customers.
 
The Chamber is working with our partners across BC to advocate for help. For every litre of regular gas, Greater Victoria residents pay 30 cents in provincial taxes and more than 15 cents in federal taxes. The biggest cost affecting the price at the pump is the cost for crude (about half the total price), which is what has risen because of Putin's invasion.
 
BC's Public Safety Ministry said Monday it will not follow Alberta's lead and cut provincial fuel tax.
 
One idea The Chamber is looking at is calling for a carbon tax exemption for companies that transport goods or passengers. The idea being that these businesses help take single driver vehicles off the road and should be encouraged.
 
To find the lowest gas prices in the region, go to gasbuddy.com.