Fuel Price Transparency Act
In November 2019, the B.C. government created BC's Fuel Price Transparency Act (FPTA). The FPTA requires companies in the fuel (gasoline and diesel) industry in B.C. to report information and data on their activities.
In March 2020, the British Columbia Utilities Commission (BCUC) was named as the independent administrator of the FPTA and given the power to collect and publish data on fuel pricing in order to promote competition in the market. The BCUC has launched a website to provide the public with information about the factors that influence fuel gas prices: https://www.gaspricesbc.ca/
Starting in May 2020, the B.C. government undertook a consultation with fuel industry stakeholders in B.C. The purpose of the consultation was to seek feedback on the design of a proposed regulation that provides greater transparency on factors that affect prices at the fuel pumps.
A consultation paper outlining the proposed approach to reporting requirements is found here.
Information gathered during the consultation sessions informed government of the most effective approach to the development of a regulation allowing the BCUC to gather relevant information on factors that affect fuel prices while minimizing impacts to industry stakeholders.
In August 2020, the Province brought in new mandatory reporting requirements for the wholesale market using the Fuel Price Transparency Act (FPTA). The new regulations target the wholesale market. Companies that import, purchase, store and distribute gasoline and diesel products intended for sale at retail stations will need to make regular reports starting for the month of October to the BCUC. This includes detailed information on fuel imports, storage capacity, bulk sales and wholesale prices.
A special direction from the B.C. government outlines how the BCUC is to use their authority, as the designated administrator of the FPTA, to require fuel data from retailer dealers of reportable fuels for the purposes of a retail data collection pilot. This pilot will inform the development of regulations for ongoing data collection targeted at the retail component of the fuel supply chain in British Columbia. The special direction is found here.