Today is the last day to register for the upcoming hearing to review the retail margins for petroleum products in the province. The Energy and Utilities Board electronic hearing is scheduled for March 18th via Zoom.
The hearing is examining the maximum retail 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.