QUEEN’S PARK – The Official Opposition wants the Ontario Energy Board to regulate the retail price and wholesale mark-up of petroleum products in Ontario, protecting drivers from being gouged at the pump. Timmins MPP Gilles Bisson will table a private member’s bill on Tuesday to accomplish that, the Fairness in Petroleum Products Pricing Act, 2018.
“Drivers across the province are being gouged by big oil corporations with no end in sight,” said Bisson. “Prices spike whenever these companies decide to raise them, and family budgets are at their mercy. It’s time to get these price hikes under control so Ontario drivers and their families can have peace of mind – and a healthier cost of living.”
Since Doug Ford was elected, gasoline prices have continued to go up across the province, despite crude oil prices staying stable.
The bill, Fairness in Petroleum Products Pricing Act, 2018, will give the Ontario Energy Board the mandate to protect the interest of consumers by implementing predictable and consistent retail pricing of petroleum products; prevent pricing practices that undermine the stability and competitiveness of retail markets for petroleum products, including retail markets in remote, rural and northern areas; and ensure transparency and reasonableness with respect to the prices of petroleum products.
“The steep price fluctuations from day to day and between regions are frustrating and painful for drivers,” said Bisson. “The Ford government can put an immediate end to price gouging for millions of Ontario drivers and their families by supporting this bill.”
Bisson and the Official Opposition have tried multiple times to regulate gas prices in Ontario – but Liberal and Conservative MPPs blocked the Official Opposition's attempts. Regulation is considered more consumer-friendly than getting rid of the gas tax, since gas companies could just take the extra profits and refuse to pass those savings on to drivers.