Will an inquiry really work to limit B.C.’s sky high gas prices?

An industry expert says a public inquiry into British Columbia's record-breaking gasoline prices may increase the public's understanding of a murky market, but the provincial government's options for a response are limited. Michael Ervin of the Kent Group consulting firm says there are two options: creating a gasoline price watchdog group or reduce taxes. The government could also regulate prices, but he says there are problems with that. Crude and wholesale gasoline are global commodities so Ervin says capping prices could see American buyers guzzle up local supply. And regulating prices at the pump could put gas stations out of business because their retail margins adjusted for inflation have declined over 30 years.

Guest: Michael Ervin 

Senior Vice-President at Kent Group Ltd.

An industry expert says a public inquiry into British Columbia's record-breaking gasoline prices may increase the public's understanding of a murky market, but the provincial government's options for a response are limited. Michael Ervin of the Kent Group consulting firm says there are two options: creating a gasoline price watchdog group or reduce taxes. The government could also regulate prices, but he says there are problems with that. Crude and wholesale gasoline are global commodities so Ervin says capping prices could see American buyers guzzle up local supply. And regulating prices at the pump could put gas stations out of business because their retail margins adjusted for inflation have declined over 30 years.

Guest: Michael Ervin 

Senior Vice-President at Kent Group Ltd.