Ottawa Cuts Fuel Tax, Lufthansa Cuts Flights

0:00Ottawa is dropping the federal fuel excise tax on gasoline, diesel, and aviation fuel starting Monday for the next five months. This move comes as prices skyrocket from the war in Iran, hitting everyone from drivers to airlines hard. Luthans have just announced they're slashing 20,000 short haul flights across Europe from May through October. The first 120 cuts are already set through May 31, with routes to places like Poland and Norway getting axed first. The drivers are feeling the pinch worldwide, with airlines hiking fairs and rethinking budgets. Jet fuels jump from about $85 to $90 a barrel to $150 to $200, eating up a quarter of their operating costs. The German carrier expects the sale over 40,000 metric tons of fuel this way. They're hedging prices and securing supplies to keep things steady through summer, but more cuts drop soon. As experts warn the crunch could worsen, keep an eye on your summer trips. Your seats mean pricier options ahead.

1:00Local news, powered by AI. This is Canada News today. I'm Corey with The Story.