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As fuel prices climb, ICBC ‘gas’ rebate may not come until mid-July for some drivers

Click to play video: 'Many drivers still waiting for ICBC Relief Rebate' Many drivers still waiting for ICBC Relief Rebate
The provincial government announced an ICBC Relief Rebate back in March to help ease the cost of gas. Prices at the pump have continue to hit record-breaking highs since then. As Richard Zussman reports, many drivers in B.C. are still waiting for the one-time payment. – Jun 13, 2022

More than 80 per cent of customers have not received their latest ICBC rebate and many will not receive the one-time $110-gas rebate until July, the B.C. government has confirmed.

The province originally told drivers that the rebate, announced in March as a relief measure in the midst of record-breaking gas prices, would be distributed in May and June.

ICBC, however, has now clarified some cheques may not arrive until the end of next month. Regardless of the rebate payment method, all eligible customers should receive a letter confirming when their rebate is issued.​

“ICBC is getting them out and it will be done by mid-July,” Public Safety Minister Mike Farnworth said Monday. “As of today 600,000 rebates have gone out.”

Read more: Drivers to get $110 one-time ICBC rebate amid record-high gas prices

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Commercial insurance customers who had an active eligible basic insurance policy at any time during the month of February will receive a $165-relief rebate.

ICBC allowed customers to sign up for direct deposit, but only 25,000 people signed up. Rebates have already been distributed to those who did.

The 573,000 people who have paid their insurance through credit cards have also been issued a rebate, the provincial Crown corporation confirms.

More than 2.9 million customers, however — those who paid by debit, cash, cheque or a payment plan — have not received the rebate to date.

Click to play video: 'Gas prices in B.C hit all-time high' Gas prices in B.C hit all-time high
Gas prices in B.C hit all-time high – May 9, 2022

ICBC started processing the cheques on Monday, with 54,000 cheques processed on the first day.

Personal insurance customers who had an active eligible basic auto insurance policy at any time during the month of February will receive a $110-relief rebate.

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The money is coming from the public insurer due to better-than-expected investment returns at ICBC and crash claims going down.

ICBC is also warning customers that any text messages they receive about the rebate are fake.

Read more: Gas prices are at record highs. How the cost of fuel for 5 cars has changed

Gas prices have surged since the province announced the rebate.

Prices were at $1.869 per litre across Metro Vancouver in early March. The price at the pumps hit $2.332 per litre last week and could go higher as the summer nears.

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“The fact we now see gas 50 cents higher per litre than when the rebate was announced shows just how slowly this government has reacted on even the smallest of measures to help people,” BC Liberal MLA Peter Milobar said.

“I think 80 per cent of ICBC customers are disappointed they have not seen their money yet.”

Click to play video: 'ICBC gas rebate not going over well some British Columbians' ICBC gas rebate not going over well some British Columbians
ICBC gas rebate not going over well some British Columbians – Mar 28, 2022

BC Green Party leader Sonia Furstenau is teaming up with New Brunswick and P.E.I. Green leaders David Coon and Peter Bevan-Baker in calling on the prime minister and premiers across the country for a national tax on the windfall profits of oil and gas companies.

The Greens contend there are no oil shortages in North America, and yet prices have climbed.

Oil and gas companies have posted profits and the tax would take some of those profits are distribute them back to those who make the least.

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“Housing is unattainable, inflation is at record levels, and the price of gas is making it incredibly difficult to access basic services,” Furstenau said.

“The B.C. provincial government has failed to address these crises or invest in accessible transportation options.”

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