Image Credit: Canadian Press

By Mel Rothenburger

ARMCHAIR MAYOR

ROTHENBURGER: Don’t expect too much from the gas-price inquiry

Jul 17, 2019 | 5:17 AM

KAMLOOPS — I’M NOT GETTING MY HOPES UP for the hearings that get underway today on gasoline prices in B.C.

I’ll be surprised if the inquiry doesn’t conclude that gas prices are the result of supply and demand. More importantly, I’ll be shocked if it turns out John Horgan can do a thing about it.

There are those, however, hopeful that it will at least give us some insights into how the oil companies set their prices. If, for examples, it puts to rest, yes or no, the claim that the Trans Mountain pipeline will lower the price at the pump in B.C., maybe it will be worth it.

The whole thing began with Premier Horgan having to look like he was doing something about rising gas prices in Vancouver because, after all, the Lower Mainland is the centre of the universe.

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A litre of regular at the Coast has dropped from $1.70 in May to the mid one-40s so one wonders if the energy behind the inquiry has dissipated somewhat but the question remains whether the oil companies are gouging us.

Since Big Oil will submit profit-related information on a confidential basis, there’s a lot we aren’t going to know. One of the best things that could come out of this inquiry would be improved transparency and at least an understanding of why gasoline prices are so volatile.

And where will this leave us when the B.C. Utilities Commission releases a report later this summer? Some experts say the smartest thing we can do is get ready for $2 gasoline.

Better yet, we’d better start thinking about getting rid of our gas guzzlers and investing in electric, because whatever the inquiry finds, it’s unlikely it will result in lower gas prices.

I’m Mel Rothenburger, the Armchair Mayor.

Mel Rothenburger is a former mayor of Kamloops and newspaper editor. He publishes the ArmchairMayor.ca opinion website, and is a director on the Thompson-Nicola Regional District board. He can be reached at mrothenburger@armchairmayor.ca.

Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of CFJC Today or the Jim Pattison Broadcast Group.