B.C. proposes legislation to require oil, gas companies to disclose breakdown of fuel prices

Vancouver drivers are paying far more to gas companies than most Canadians, and skyrocketing fuel prices have put the B.C. government under pressure since April.Oil and gas companies supplying British Columbia’s fuel market will be required to disclose how prices at the pumps are set under proposed legislation introduced Monday.

“We hope, but we’re not necessarily expecting, that sunlight being the best detergent, that it may have an impact upon the way in which prices are set," he said."Oil companies, perhaps in response to public concerns, may take that as a message to moderate their prices.” However, the BCUC was unable to extract a clear explanation from fuel suppliers about a gas-price difference of between 10 cents and 13 cents a litre between southern B.C. and other regions in the Pacific Northwest. A number of suppliers balked at producing evidence, citing the need for commercial confidentiality, and some of their explanations were contradictory.

“We’re concerned about that unexplained, 13-cent gap," he added, but suppliers should also be concerned about growing frustration by consumers about rising gas prices. “I would hope that they would be considering the reaction of the public. Certainly it’s more intense than I can ever recall.”The Lower Mainland’s only refinery, the Parkland facility in Burnaby, cannot come close to meeting domestic demand.

Mr. McTeague noted that a wide-open inquiry into gas prices would have likely pointed the finger back at government.

globebusiness TooBadSoSad

globebusiness Living in million dollar homes and complaining about fuel prices. A peculiar psychosomatic condition.

globebusiness Do they also breakdown the tax component?

globebusiness It’s not the oil companies that need to explain profit to the public, it’s the confiscatory government that should explain how they justify such a high tax for doing so little.

globebusiness BlueSkyCBC Why does Sask have artificially, low prices ? Subsidies ?

globebusiness Why just them? Electricity prices? Food? Water?

globebusiness Provincial taxes, federal taxes, carbon taxes, fees and charges for importing oil from Saudi Arabia instead of Canadian oil.

globebusiness Well, that would create another fee to the customer, cost disclosure administration fees 😛

globebusiness All BC government wants is to create chaos about gas stations profits, how about to disclose how much from each litre you collect in taxes and fees. Cause making $ of taxes and environmental fees is ok, but making profits for businesses isn’t!

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B.C. proposes law to force oil and gas companies to reveal how gas prices are setThe B.C. government has introduced legislation to force oil and gas companies to reveal to consumers how gas prices are set. What? Corruption in B.C.? *GASP* Join a co-operative like midislandcoop and get your share of gas profits back in your own pocket where it belongs eachforall Maybe they should also check on how the price of vehicles is set. New vehicle cost is out of control by dealerships. The price of a new vehicle is out of reach for most people.
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