WATCH: Is $110 enough for gas price relief? Here's what you said

Drivers in British Columbia will be getting some financial relief to help lessen the blow from record fuel prices brought on by Russia’s invasion of Ukraine.

The province’s public auto insurer, ICBC, will provide a one-time payment of $110 personal customers and $165 to commercial clients.

“We’re confident these contributions … are timely to help ease some of the pressure on pocketbooks when it comes to gas prices,” Premier John Horgan said. “This is directly a result of international war in Europe that has disrupted supply chains and commodity prices.”

Most ICBC customers who had a basic auto insurance policy in February will be eligible. Money will start arriving for those registered for direct deposit with ICBC or as a refund to their credit card in May. All other customers will receive cheques in June.

The program will cost the province $395 million. Public Safety Minister and Solicitor General Mike Farnworth said the province can provide the rebate because ICBC is in a strong financial position.

ICBC’s reserves are flush with cash thanks to strong investments the corporation makes on behalf of policy holders, he said. Collision claims have also fallen dramatically, lessoning how much the insurer is paying out.

However, Farnworth acknowledged the need to keep an eye on the bottom line as drivers take to the roads again post-pandemic.

“It’s that balance between recognizing the strong financial position, what ICBC requires, and the surplus or the windfall, if you like, that we can return to policy holders,” Farnworth added.

If further inflationary pressures continue to take a toll on monthly household budgets, Horgan said the province will look at other ways to lessen the blow.

“We have a challenging period ahead of us,” Horgan “The instability and aggression of Vladimir Putin is going to be affecting us for some period of time, not just at the pumps but at the check out at the grocery store.”

He said conversations remain ongoing with his provincial counterparts, and the prime minister, on what more can be done to unilaterally address inflation across the country.

Take a look at the video to see what people on the streets of Kelowna had to say about the rebate.