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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

All bus runs in Quesnel School District cancelled again Jan. 24 due to unsafe roads

The school district determined rural bus routes were unsafe or bus travel Friday, Jan. 24

Cariboo Regional District will revisit Maple Drive streetlights with MOTI

‘We have to be on it continually,’ says Area A Director Mary Sjostrom

Quesnel hockey player takes part in historic outdoor game

Destiny Bautista played in the first-ever female midget AAA league outdoor hockey game on Jan. 19

MISSING TEEN: Williams Lake RCMP ask public’s help in finding Angel Emile

Emile was last seen on Windmill Crescent in Williams Lake Jan. 16

VIDEO: Rare ‘ice circle’ spotted on Kamloops river

An ice circle or ice pan, has formed in the chilly waters just east of the Yellowhead Bridge

Uber, Lyft approved for ride-hailing in Lower Mainland

Kater Technologies Inc.’s application was rejected

B.C. man rescued after getting trapped headfirst in well as water level rose

The rescue involved crews from Oak Bay and Saanich

Investigators in wildfire-torn Australia head to site of B.C. airtanker crash

The B.C. government sends condolences to Port Alberni-owned Coulson Aviation

RCMP investigating sexual allegation against Lower Mainland police officer

Delta officer suspended while the alleged off-duty incident involving a co-worker is investigated

Former Mountie, sports coach convicted of sex abuse in B.C. granted day parole

Alan Davidson was sentenced to almost six years for abusing seven boys in the late 1970s and early 1990s

VIDEO: Person in wheelchair narrowly avoids collision with car in Kelowna

There were no injuries in the scary looking near-accident last week in Rutland

Here’s what Canada is doing to stop the coronavirus from getting in

Health officials are monitoring multiple possible cases in Canada

B.C. still struggling to control non-resident medical care fraud

Unpaid bills, out-of-province claimants a costly legacy of MSP

Most Read