The National Energy Board is providing some insight to how gasoline prices are set in Canada.
In a report, the N-E-B says prices are determined by a combination of factors, including crude oil prices, refining costs, transportation, local mark ups and taxes.
It says the cost of crude accounts is responsible for much of the price fluctuations at the pump, but changes in the other factors can also influence prices.
The NEB’s report comes after the Competition Bureau found no evidence of collusion to price setting in northwestern Ontario.
