The Quebec government has officially abolished its long-standing floor price on gasoline, a measure in place since the 1990s, with the aim of increasing competition among service stations and ultimately lowering prices at the pump. This decision follows the federal government's scrapping of the consumer carbon tax, though Quebec maintains its own cap-and-trade carbon pricing system.
Quebec government scraps gasoline floor price to boost competition
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TL;DR: Key points with love ❤️The Quebec government has officially abolished its long-standing floor price on gasoline, a measure in place since the 1990s, with the aim of increasing competition among service stations and ultimately lowering prices at the pump. This decision follows the federal government's scrapping of the consumer carbon tax, though Quebec maintains its own cap-and-trade carbon pricing system.
Trending- 1 1990s: Gasoline floor price was established in Quebec.
- 2 April (current year): Quebec government announced the measure after the federal government scrapped the consumer carbon tax.
- 3 Saturday (prior to publication): The minimum price was officially axed as part of a major energy bill passed at the provincial legislature.
- Expected increase in competition among gas stations in Quebec
- Potential decrease in gasoline prices for consumers
- A shift in provincial energy policy regarding fuel pricing
What: The Quebec government abolished its minimum or 'floor' price on gasoline.
When: Officially axed on Saturday (prior to the article's publication); the measure was announced in April (after the federal government scrapped the consumer carbon tax); the floor price had been in place since the 1990s.
Where: Quebec (province).
Why: To boost competition among gasoline retailers and bring down prices at the pump for consumers.
How: By passing a major energy bill at the provincial legislature, which included the abolition of the minimum price.