The Energy and Utilities Board is holding a public hearing this month to review the maximum retail price margins for gasoline – diesel – and home heating oil. As part of the process – the Board hired Gardner Pinfold Consultants to review the maximum retail margins – delivery costs – and maximum price charged by retailers providing full service at the pumps.
The Gardner Pinfold report is recommending a 7.6% increase in the retail margin for gas and diesel. That would raise the current margin for retailers from 6.8 cents per litre to 7.3 cents per litre. The report also recommends maintaining the full service charge at 3 cents per litre.
The report is also recommending a 12.2% increase in the retail margin for furnace oil translating to an increase of 2.6 cents per litre. Gardner Pinfold says dealers are faced with increasing costs and stable or declining heating oil sales volumes. The report also suggests rejecting the recommended price increase could lead to supply interruptions or loss of supply in areas of the province where delivery costs are highest.
The public hearing is scheduled for March 18th via Zoom between 2 and 4 – and – again 7 and 9. Full details on the hearing and how to register can be found here. A copy of the Gardner Pinfold report can be found here.
