Gasoline prices are setting new records in Metro Vancouver. (Black Press Media)

John Horgan says spike in gasoline prices is profit-taking, not taxes

Premier denies Trans Mountain expansion would deliver more fuel

B.C. Premier John Horgan says his government is “monitoring” the soaring price of gasoline, after the “summer driving season” began months early with a big jump in gasoline prices around the province.

B.C.’s April 1 carbon tax increase accounts for only a penny of additional tax on gasoline, Horgan told reporters at his weekly news conference Thursday, describing the latest record gasoline price as profit-taking by petroleum companies.

“I look at the commodity price, it’s still pretty low for a barrel of crude oil, but yet if you go to the pump, you see these unreasonable costs,” Horgan said. “It’s not about governments gouging, it’s about gas companies gouging.”

Horgan also rejected a suggestion that his government’s court fight to stop the expansion of the Trans Mountain pipeline from the Edmonton area is pushing up gasoline and diesel prices. The original pipeline has alternated sending refined fuels and crude oil since it began operations in the mid-1950s, and B.C.’s Lower Mainland is also supplied with refined fuel by Washington state refineries, which take the majority of Trans Mountain’s crude volume.

“The challenge is we don’t have enough supply in the marketplace,” Horgan said. “And instead of purchasing a pipeline, as the federal government did, perhaps if they wanted to get into the oil business, they should have gone into refining.”

READ MORE: Metro Vancouver gasoline price hits all-time high

READ MORE: Want cheap gasoline? Smithers is lowest in B.C.

Prices have pushed past $1.60 per litre in Metro Vancouver, where the dedicated tax to fund TransLink buses and SkyTrain is up to 17 cents per litre on gasoline and diesel. In Greater Victoria, the transit tax is currently 5.5 cents per litre. An additional tax to fund the B.C. Transportation Financing Authority for transit in the rest of the province applies province-wide at 6.75 cents per litre.

After this week’s increase, carbon tax adds 8.89 cents to a litre of gasoline and 10.23 cents to a litre of diesel, which contains more carbon.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Chemainus campground on the chopping block as ALC deadline looms

Owners fighting to continue facility’s operation, with a huge outpouring of support

VIDEO: Hold onto your funny bones: Ron James is back on the Island

He’s been called ‘a genius’, and ‘funniest man in Canada’. Find out why when he comes to town.

Malahat truck crash cleared but over 200 still without power

Hydro poles taken out in Monday afternoon crash

Controversial Chemainus building must be torn down

Weight of evidence from bylaw enforcement staff and police is enough for North Cowichan council

UPDATE with VIDEO: Home on Allenby Road suffers early morning fire

The fire department was first called to the scene at 6:30 a.m.

B.C. forest industry looks to a high-technology future

Restructuring similar to Europe 15 years ago, executive says

RCMP conclude investigation into 2017 Elephant Hill wildfire

Files have been turned over to BC Prosecution Service

B.C. wants to be part of global resolution in opioid company bankruptcy claim

Government says settlement must include Canadian claims for devastation created by overdose crisis

Two Nanaimo residents share $5-million Lotto 6/49 prize

Jesse Logan and Teresa Winters Day matched all six numbers in Aug. 21 Lotto 6/49 draw

B.C. ends ‘birth alerts’ in child welfare cases

‘Social service workers will no longer share information about expectant parents without consent’

U.S. student, killed in Bamfield bus crash, remembered as ‘kind, intelligent, talented’

John Geerdes, 18, was one of two UVic students killed in the crash on Friday night

Free Tesla 3 offered with purchase of Surrey townhome

Century Group’s offer for Viridian development runs through Oct. 31

B.C. communities urged to improve access for disabled people

One in four B.C. residents has disability, most want to work

Most Read