B.C. awaiting recommendations to regulate gas prices as more records broken
The B.C. government has asked the independent utilities commission to make recommendations to regulate and possibly reduce gas prices, which broke multiple records this week.
In Langley, Surrey and the west side of Vancouver, several gas stations charged 182.9 cents per litre of gasoline Wednesday. Premium gas was spotted at over $2 per litre.
While fuel prices are high all over the world, Energy Minister Bruce Ralston said the B.C. Utilities Commission is examining retail and wholesale pricing, and is expected to come up with recommendations to regulate gasoline in the province. The review began in 2020 and the final report is due next month.
A 2019 report found prices in British Columbia were inexplicably 13 cents a litre higher than other places, and Ralston told reporters the goal is to find out why.
"The unexplained 13 cents a litre amounted to a total cost to British Columbians of $500 million. Yes, they were ripped off,” he said. “That's what we want to make sure doesn't happen.”
The BCUC is an independent agency charged with making sure ratepayers are treated fairly.
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