Ontario NDP pushes for gas price regulation

Ontario's New Democrats are introducing a private member's bill that would deregulate gas prices, though the energy minister says that wouldn't actually lower costs for drivers.

TORONTO -- Ontario's New Democrats are introducing a private member's bill that would deregulate gas prices, though the energy minister says that wouldn't actually lower costs for drivers.

With gas prices soaring across the province to $1.60 or higher in some regions and set to keep rising even higher, the NDP is pushing a gas price bill that it has tried on two previous occasions to get passed.

The bill would give the Ontario Energy Board power to regulate the retail price and wholesale mark-up on petroleum products, which NDP Leader Andrea Horwath says would prevent "gouging" at the pumps.

But Energy Minister Todd Smith says OEB studies show that regulation doesn't lower gas prices. Instead, Smith is calling on the federal government to stop planned increases to the carbon tax, saying it would help give people a break at the pumps.

The Progressive Conservatives promised during the 2018 election to lower the provincial fuel tax by 5.7 cents, but are now saying they'll do that if the federal government also lowers taxes on gas. This report by The Canadian Press was first published March 2, 2022