Minister of Energy Glenn Thibeault asked the Ontario Energy Board (OEB) to conduct a review of the transportation fuel market in November.
According to a news release, families and businesses have requested more information about how gasoline and diesel retail prices are set.
Sudbury's MPP, Thibeault said he has heard especially strong concerns from Northern Ontarians about variations in gas prices over different regions and over time.
“I hear it from many folks here in Sudbury that on the way to Toronto or south, the price changes,” said Thibeault.
There are a number of factors that contribute to the determination of retail gas prices, including crude oil costs, taxes, the refining/wholesale margin and the retail margin.
The review will have three main focuses; the extent and causes of retail gasoline/diesel price variations over time and between regions within Ontario; how Ontario compares with pricing and markets in other jurisdictions; and, the information available to consumers about pricing and price variations.
They will start meetings with the OEB soon, but the OEB will decide the final time line.
“We're asking them to do quite a bit of work,” explained Thibeault.
However, a review doesn't necessarily mean Ontarians will see a change at the pumps any time soon.
“It's not about regulation,” said Thibeault. “I was hoping to get these issues addressed, it's giving us more information, more transparency.”
