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It’s no secret that British Columbians are unhappy with the prices they’re paying at the pump.
As a result, the provincial government has requested that the British Columbia Utilities Commission (BCUC) investigates what is driving these high, volatile prices.
"The rapid increase in gas prices in B.C. is alarming, increasingly out of line with the rest of Canada, and people in B.C. deserve answers," said Premier John Horgan.
"We asked the BCUC to conduct a fair, transparent and comprehensive independent investigation. These terms provide the broad reach it needs to find answers and give recommendations to inform the path forward."
The BCUC has been asked to do the following:
- Examine the market factors that affect wholesale and retail prices in British Columbia;
- Investigate gasoline price fluctuations, including the extent of possible competition concerns, such as price fixing and gouging;
- Explain the difference in refining margins between British Columbia and the rest of Canada, including why in recent months refining margins for Vancouver were more than double the Canadian average;
- Explain the difference in retail margins between British Columbia and the rest of Canada, as well as regional difference within British Columbia; and
- Review the potential of regulatory measures used in other jurisdictions across Canada and North America to enhance transparency about how prices are determined.
Bruce Ralston, minister of jobs, trade and technology, says the “high and wildly fluctuating gas prices” are hurting British Columbians and the province’s economy.
The final report will be delivered to Horgan’s government by Aug. 30, 2019.
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