The B.C government will be hearing from both people and gasoline companies as part of its public inquiry into gas prices tomorrow.
The B.C government will be hearing from both people and gasoline companies as part of its public inquiry into gas prices Wednesday.
The B.C. Utilities Commission (BCUC) started a report after Premier John Horgan ordered the inquiry back in May.
Senior Petroleum Analyst with Gas Price Wizard, Dan McTeague, says the report may let the public down.
“The outcome is going to be somewhat suspect, not willing to look at the real drivers of gas prices, then at the end of the day you’re lucky to have a report that’s going to fall short, will disappoint and certainly won’t allow in my view, an honest view of why gas prices are high in your region(Vancouver Island/Vancouver) versus virtually any other jurisdiction in North America.”
McTeague adds that he believes the main factor as to why prices continue to increase is the B.C. Government.
“If anyone has to blame here it’s the government of British Columbia, and that’s not just this particular government, but previous governments as well, in allowing higher taxes and fuel standards to be imposed,” said McTeague.
“You’re looking at almost 60 cents of that 1.40-1.50 that you’re paying is a direct result of government action. The other part can be explained simply by the fact that refining in the Pacific Northwest is not cheap.”
Other factors could be because the government refuses to allow the Trans-Mountain Pipeline in B.C, or that the province currently only has two oil refineries.
McTeague highlights that oil companies have only agreed to join the inquiry if their information is not released.
“The oil companies have made a decision to come in as long as their information is not shared publicly. I’d like to see the Horgan government come out and say we’re going to look at no holds barred at all aspects of gas prices.”
Out of the seven companies, 7-Eleven and Shell Energy have agreed to hand over the data requested by the commission.
Other companies, such as Shell Canada, Husky Energy, and Suncor Energy refused to provide information.
The public hearings will get underway Wednesday in Vancouver.