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George Sweeney, Opposition Critic for Government Services and MHA for the
District of Carbonear-Harbour Grace, is calling on government and the Public
Utilities Board (PUB) to recommit to abiding by the spirit and intent of the
Petroleum Products Act with respect to price setting and usage of the
interruption formula. "Media reports today indicate that the interruption
formula will be used again this weekend to raise fuel prices in the
province," said Sweeney. "I find it completely unacceptable that consumers
continue to be faced with uncertainty leading into the Thanksgiving Day long
weekend. The principle of fuel price regulation when it was implemented was
based upon providing stable prices over a month long period so that
consumers would not face price fluctuations.
"I see no legitimate reason to raise prices three or four cents this
weekend when prices will be set on October 15th for a one month
period. The interruption formula may allow for an increase based on pricing
trends, but unless a legitimate break in supply is imminent, prices should
be held at current levels until the middle of the month.
"Greater leadership is necessary at the Petroleum Products Pricing
Office, the PUB and the Department of Government Services to assess each
possible interruption and determine the necessity of raising prices. Now
that the large price fluctuations caused in the international marketplace
due to hurricanes Rita and Katrina in the United States have been passed on
to consumers, it is time to get back to regulating fuel prices monthly.
"Consumers are sick and tired of waking up each morning wondering if fuel
prices have fluctuated from the day before. If government is committed to
fuel price regulation in this province, then the usage of the interruption
formula four or five times each month cannot take place as it has over the
past several months."
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