Canadian Gas Prices Aren’t So Bad, Industry Expert Insists

(CBC News)

While Canadians complain about the soaring price of gasoline at the pumps, an oil industry spokesman says people in this country actually have it pretty good.

Peter Boag, testifying before a parliamentary committee on Tuesday, told MPs that fuel prices are lower in Canada than they are in every other Western country, except the United States.

And the fact that Canadian gas prices jump up and down from day to day is actually a good sign, he said.

“We do understand Canadians' frustration with fuel price volatility in particular, but at the same time in our view that's the best evidence of a well-functioning, competitive market,” said Boag, president of the Canadian Petroleum Product Institute.

His association represents Canadian fuel companies like Petro-Canada, Shell, Ultramar, Chevron, Husky and Imperial Oil.

“In our view, Canadians are well-served by a competitive marketplace and today they still pay the second-lowest price for fuel in the Western world,” he added.

He was one of three petroleum industry experts testifying before the Subcommittee on Oil and Gas and Other Energy Prices. The committee is investigating the reasons behind the high prices of fuel in the country.