Re: Red flag on fuel, April 7 editorial
I have to agree that the current B.C. government does not have the tool to regulate gas prices. Then again, when has any B.C. government been able to influence the price of gas, except upward due to taxation?
The price of gasoline is a very sensitive topic. It’s always a point of discussion when talking to friends or neighbours, just like discussing the weather. It’s a common practice when travelling to other parts of Canada or the U.S. to check out the price of gas and compare it to your local price.
So if you live in the Greater Vancouver area, everywhere you travel will be a smaller price at the pump. However, if you were to go back in time to 1998, the price of gas in the Lower Mainland was the cheapest in Canada. Due to the American Oil company Arco trying to move into this part of Canada at the time, they reduced their prices significantly.
When the average price per litre at that time would have been around 60 cents, Arco started selling at 42 cents.
It was a tremendous time for the consumer as the other oil companies kept matching Arco’s prices all the way down to 29 cents in places like Abbotsford. This lasted several months and it proved that oil companies could reduce their profits if necessary.
So it’s beyond my comprehension why the current NDP government would ever get involved with such a sensitive topic in the first place. They have done a remarkable job with ICBC in such a short time to have them now turning a profit. The $110 rebate is due to the success of ICBC and drivers should receive the benefit from this success
This rebate should never have been confused with the current gas prices and made to look like a gift to consumers of gasoline vehicles.
George Scott, White Rock