Gas prices spotted at a Maple Ridge gas station in April. (Black Press Media files)

Oil companies, 24-cent gap between B.C., Alberta to be focus of gas price probe

Premier John Horgan called the spike in gas prices ‘alarming’

Oil companies will have to explain their gas prices as part of an investigation into B.C.’s soaring costs at the pump, the province says.

In a Tuesday morning news release, the province said the probe will include “compelling oil companies as witnesses to explain their prices to the commission.”

Premier John Horgan had initially called for the investigation in a May 7 letter to the B.C. Utilities Commission.

In it, Horgan asked for the commission to find out why wholesale – and pre-tax – prices are 24 cents higher in Vancouver than they are in Edmonton.

Tuesday saw gas prices reach 171.9 cents for a regular grade litre in Metro Vancouver. GasBuddy reports Edmonton prices at just 114.5 cents a litre.

READ MORE: 50% of B.C. drivers struggling financially amid high gas prices, poll says

Historically, the letter said, wholesale prices have been 2.5 to four cents more expensive in Vancouver.

“British Columbians want to know why refining margins are so much higher than in other parts of the country,” Horgan wrote.

“In March 2019, refining margins for Vancouver were more than double the Canadian average.”

Tuesday’s release said the commission will investigate fluctuations in gas prices, possible price fixing and gouging, as well as details in retail and wholesale prices between Vancouver and other North American cities.

“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 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.”

READ MORE: BC Hydro powering up for more electric vehicle charging demand

READ MORE: More gasoline, less bitumen in Trans Mountain pipeline, B.C. premier urges Trudeau


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Hundreds turn out for Singh, NDP candidate rally in Penticton

The messaging was clear, NDP “chooses you”

Climate, reconciliation and industry top all candidates agenda in Terrace

Debate was the candidate’s last opportunity to address voters in a public forum

New curator starts at Terrace’s Heritage Park Museum

Anna Glass stepped into her new role early October

South Hazelton pellet plant on track for 2021 opening

Company predicts more nearly 100 direct and indirect local jobs will be created

Greta Thunberg meets with First Nations chief in Fort McMurray

Thunberg has turned her protest against climate change into a global movement

Canucks hang on for 3-2 win over Rangers in New York

Vancouver scores three times in first period

More beef products recalled due to possible E. coli contamination

The food safety watchdog has been investigating possible E. coli 0157:H7

B.C. VIEWS: How to get the best deal on your ICBC car insurance

ICBC slowly being dragged into the 21st century

Pot legalization has gone ‘well’, but ‘yellow flags’ on vaping: task force chair

Canada legalized cannabis for non-medical use on Oct. 17, 2018,

ELECTION 2019: Federal leaders hit final 24 hours of campaign

Many leaders remain in B.C. for the final hours of the campaign

Most Read