The National Energy Board is providing some insight to how gasoline prices are set in Canada.
In a report, the NEB says prices are determined by a combination of factors, including crude oil prices, refining costs, transportation, local mark-ups and taxes.
It notes the cost of crude accounts some of the volatility and price fluctuations at the pump, but changes in the other factors can also influence gasoline prices.
The NEB’s report comes on the heels of findings by the Competition Bureau of no evidence of collusion to price setting in northwestern Ontario.
The Bureau initiated it’s work at the request of Energy Minister and Kenora-Rainy River MPP Greg Rickford.
