No spring gas tax break while prices soar, Smith says

By MEDICINE HAT NEWS on March 10, 2026.

Despite oil prices clearing $115 this weekend, Premier Danielle Smith says Albertans should not expect a tax break at the pumps anytime soon.

The province has a policy that allows it to lower gas prices when royalties are up from high prices. The program comes into effect when WTI prices are above $80, but it doesn’t come into effect until prices remain elevated for a period of three months.

“We’re coming to the end of this first quarter where we do that assessment,” said Smith. “This jump happened too late, so it wouldn’t qualify for Apr. 1, but we’d be looking and seeing if we would make the adjustment if these prices hold.”

Since the outbreak of war in Iran, the price of oil nearly doubled from around $65 to a high of $115 on Sunday. Prices took a significant plunge Monday, hovering just above $85 at the time of writing.

“I think we’re all hoping the conflict resolves quickly, with minimal loss of life,” she said. “I know it’s not looking that way at the moment.”

The premier also responded to criticisms from Calgary Mayor Jeromy Farkas about the increases in the education property tax included in Budget 2026.

Farkas has vocally criticized the tax hike, which is forecast to increase the average Calgarian’s property tax bill by $340 this year. In Medicine Hat, homeowners can expect to see their bills rise by $83 for the second consecutive year.

Smith contested Farkas’s description of the tax as a form of equalization.

“100 per cent of the taxes raised in Calgary stay in Calgary,” she said.

Smith said a total of about $1.2 billion is collected from the city in property tax, while more than $2.3 billion is invested in the region’s school boards.

She also commented on the future of the time change in the province, as British Columbia decided to abandon daylight savings come the fall. To the east, Saskatchewan does not adjust the time.

Smith suggested the province may consider following suit.

“I think we can all agree that we should end the time change,” she said. “It just doesn’t make sense anymore.”