According to the National Energy Board, BC’s sky-high gas prices are the result of a number of factors coming together.
Yesterday, the NEB released a statement explaining the four areas that determine the price of gas: oil price, refining margin, marketing margin, and taxes.
While oil prices are relatively similar to the rest of Canada, refining and marketing margins in some parts of the province are nearly 1 and a half times the country’s average.
Taxes vary between communities but average between 10 and 20 percent higher than the Canadian average.
Part of the statement also discusses the impact the Trans Mountain pipeline expansion would have on prices.
But the report was relatively vague on the impacts, saying that it’s tough to determine whether prices would go up or down.
