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economist sun stouffvilfe tribune saturday aug 21 1999 15 business gas pricing must be regulated mp demands m caught off guard at pump by patrick casey staff writer consumers deserve an explanation from canadas oil companies after soar ing gas prices closed in on 63 cents a litre at stations across york region last weeks latest hike courtesy of canadas fourmajor oil companies sunoco shell petrocanada and imperial oil has drawn the ire of oak ridges liberal mp bryon wilfert who believes its time to regulate the industry after witnessing the price of a litre of gas jump to 629 cents wilfert said the gas conglomerates should be subject to a body similar to the canadian radio- television and telecommunications commission where meetings would be held before price structures are initiat ed- canadians are demanding answers im not calling for more bureaucracy im calling for more accountability wiifert said i dont know if canadians want gas prices controlled but the industry is clearly pushing the govern ment in that direction if bell canada wants a price increase they have to justify it to the crtc and it should be the same way for the oil companies im fed up being held hostage arid i think my con stituents are fed up as well the latest increase is by at least three cents and it has nothing to do with the markets however imperial oil spokesperson dianne salt said regulation could lead to even higher gas prices if you look at markets that have been regulated over the longterm con sumers do not benefit and they lose out salt said regulation does not ensure healthy competition in the free market according to salt the latest hike can be chalked up to the increasing price of crude oil and wholesale gasoline based on an average pump price of 5239- cents a litre crude oil accounts for 127 cents while ontario residents pay an additional 247 cents in federal excise taxes and a provincial road tax while consumers are left fuming at the pumps federal and provincial politi cians continue to squabble over the price of gas ontarios collection of mpp gas busters have accused the federal gov ernment of not acting on last years report from 47 liberal mps who studied gasoline pricing while the liberal mps want changes to canadas competition i act in the hope of stopping oil compa- nies from setting wholesale prices high er than retail prices at their own sta tions y convertible includes 2litretwin cam 127 horsepower ensineshiftonthefly wheel drive power locks windows mirrors amfm stereo cassette with 4 speakers aluminum wheels includes freight 4 pde f 0 your york region suzuki centre 6 purchase financing available 1 1 645 yonge st 9058833555 toll free 18005655856 m mo mlc expires aug 3199 based on 48 mo oac convertible 5sp m7pdi included licence axes extra cannot be combined with any other offer 28 financed up to 48 mos 0 lb ka tlu lt4 tl all you have to do is drive one come see the many sides of seats visit your nearest sears automotive centre for your full auto service needs sears shops on steeles at 404 or sears promenade auto centres 9058826194 9057312209 open monfrf 730 am900 pm sat 800 am- 600 pm sun 1 2 noon 5 pm