Energy Minister Thibeault calling for review of gas prices

Ontario Energy Minister Glenn Thibeault has called on the Ontario Energy Board to come clean on how fuel prices are set.

Thibeault held a press conference in Sudbury today, and said the review of retail transportation fuels' prices would provide "transparency" in the process of price-setting.

In response to his call, the OEB will conduct a review and report back to government focussing on three topics:

• The extent and causes of retail gasoline/diesel price variations over time and between regions within Ontario;
• How Ontario compares with pricing and markets in other jurisdictions; and
• The information available to consumers about pricing and price variations.

In a press release, Thibeault recognized that gas prices are "major issue for Ontario consumers."

"I have heard clearly that the province needs to take a thorough look at the matter," Thibeault said, "I look forward to reviewing the Ontario Energy Board's report on the status of the market in Ontario."

According to the ministry, in 2015-16, gasoline taxes generated $2.46 billion in revenue, and other fuel taxes generated an additional $751 million in revenue for Ontario.