High gas prices front and centre in Ontario election as NDP propose cap, regulation

·1 min read

TORONTO — Ontario's political parties are offering differing visions for how to address the high cost of gasoline, with the NDP proposing to cap and regulate prices.

The New Democrats say they would regulate retail and wholesale mark-up of gas prices, getting the Ontario Energy Board to set a weekly price that includes reasonable profits for gas companies.

But Liberal Leader Steven Del Duca says regulating gas prices doesn't actually work, and the NDP plan would just put a weekly cap on gas prices instead of an overall way of preventing increases.

The Ontario Energy Board commissioned a report that found in 2017 that regulation doesn't necessarily benefit consumers and in some provinces, regulation has resulted in higher prices.

The Progressive Conservatives have passed legislation while in government to implement a 5.7-cent cut to the gas tax for six months starting July 1.

The NDP has pledged to repeal that cut, while the Liberals say they would keep it in place.

This report by The Canadian Press was first published May 20, 2022.

The Canadian Press

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