Ladysmith gas prices spike over night to 151.9 per litre

A provincial inquiry found B.C. drivers pay a 13 percent premimum compared to other provinces

The BCUC inquiry could not explain why B.C. drivers pay more than other provinces (Black Press file photo)

Gas prices in Ladysmith spiked over night on Friday, rising to 151.9 at most stations in Town, and as high as 152.9.

Minister of Jobs, Trade and Technology, Bruce Ralston said in a statement that the government is keeping a close watch on price spikes.

“I know it infuriates drivers to see gas prices spiking randomly while the price of oil stays flat, or even goes down. That’s why we commissioned the BC Utilities Commission to investigate.”

The BCUC launched an inquiry in to gas prices in May 2019. The final report was presented in August, and the BCUC will present a supplementary report to the B.C. government in November.

RELATED: Behind the pump: Multiple factors causing high gas prices in B.C.

The inquiry found an unexplained 13-cent premium that British Columbians pay at the pump in comparison to the rest of Canada, and Washington sate. This price differential dates back to 2015. There were no differences found in the price of diesel.

A main cause of the price differential is tied to petroleum wholesalers. In the BCUC’s Executive Summary, they say five refiner marketers: Parkland, Suncor, Imperial Oil, Shell, and Husky have the ability to influence retail price. It goes on to say that with refineries running at close to capacity, there is little incentive to reduce prices. The report found no evidence of collusion between gas retailers, and said that the fluctuating price is consistent with a competitive market.

Ralston said the government is working to address the price gap, and will await the BCUC’s supplemental report before considering any response on the price of gas in B.C.

Just Posted

Remembering Jack Neil, ace fighter pilot and father

Remembrance Day is an opportunity for John Neil to remember his father, Jack

Ladysmith Arts Council creates Remembrance Day poppies for display

The poppies were prepared by both established artists, and student artists

Carbon monoxide poisoning incident brings dangers of the gas to light

Chemainus adult and child go to hospital for treatment

Man seriously injured after shock and fall from electrical tower in Cassidy

20-year-old was being transported to hospital in Victoria

Ladysmith Legion exists to serve the community

Members of the Legion are busy all year round providing services and funding to the community

VIDEO: Hong Kong police shoot protester, man set on fire

It was the second protester shot since the demonstrations began in early June

Sportsnet fires Don Cherry after negative comments about immigrants

Don Cherry had said immigrants don’t wear poppies like other Canadians do

Trudeau’s new cabinet: Gender parity because it’s 2019? Or due to competence?

Prime Minister Justin Trudeau will soon appoint his new cabinet

Canada among three G20 countries least likely to hit emissions targets

It says Canada, South Korea and Australia are the farthest off

Conservatives’ Scheer wants Trudeau to open Parliament Nov. 25

That’s five days after Justin Trudeau is scheduled to swear in a new cabinet

Last remaining Centurion tank from the Korean War makes its journey ‘home’ to B.C.

Tank arrives in B.C. the day before Remembrance Day after a more than 4,500-kilometre transfer

‘Your vehicle burns a lot of fuel:’ Victoria drivers wake up to angry notes

‘This handbill was left on your vehicle because your vehicle burns a lot of fuel,’ notes read

Canadians mark Remembrance Day this morning

This year exactly 101 years to the day after the end of the First World War

Devils strike early, hang on for 2-1 win over Canucks

Vancouver now 0-8-3 in last 11 games versus New Jersey

Most Read