Bruce Ralston, Minister of Energy, Mines and Petroleum Resources, has released the following statement on the BC Utilities Commission (BCUC) expanding fuel price transparency for select British Columbia cities:
“While our government has taken strong action to get to the bottom of unexplained high gasoline prices, British Columbians in some communities are still paying significantly more compared to neighbouring regions.
“I’m pleased to see the BCUC is looking into why people in Powell River, Revelstoke, Port Alberni and Squamish are paying more for gasoline, in response to public feedback from these communities. People deserve transparency and fairness when it comes to gasoline prices.
“Using its new powers under the Fuel Price Transparency Act, the BCUC will collect and publish additional data for these cities here: GasPricesBC.ca
“We will remain diligent as we watch the market and keep the industry accountable.
“For years, British Columbians have felt they are getting gouged when they fill up at the pump. That’s why our government asked the BCUC to do an investigation into gasoline prices.
“The inquiry found a lack of competition and substantial markups in British Columbia’s gasoline market, including a 10 to 13 cents per-litre premium being charged to drivers that industry was unable to explain. This unexplained premium results in British Columbians paying an extra $490 million every year.
“Following the BCUC’s investigation, our government brought in the Fuel Price Transparency Act. The legislation gives the BCUC the power to collect and publish information on refined fuel imports and exports, fuel volumes at refineries and terminals, and wholesale and retail prices. This will help to ensure companies are held publicly accountable for unexplained markups and price increases.”