Time to regulate gas prices in BC and stop industry gouging

Drivers in Metro Vancouver are reeling from record high gas prices, and many commentators are blaming taxes. But it’s not taxes causing pain at the pump — it’s industry gouging.

Our latest research shows that gas prices have gone up by 55 cents per litre since 2016 — and the vast majority of that increase (49 cents) is going straight to big oil companies.

Canada’s Maritime provinces all regulate the maximum price of gasoline at the pump. April gas prices (excluding taxes) in Halifax are about 30 cents per litre cheaper than in Vancouver.

It’s time for BC to put an end to price gouging by Big Oil — and boost investment in public transit so it’s easier to get around without relying on cars or fossil fuels. Add your voice to the call here.

You can read the full story by Senior Economist Marc Lee on the CCPA-BC's blog: policynote.ca/over-a-barrel