04/01/2026
Gas prices in Toronto hit 182.9 cents per litre today. For those of us running businesses with trucks and vans on the road, this is a major hurdle.
When a small group of companies owns every step of the process, from the oil in the ground to the gas station, the normal rules of business disappear.
We are told the market sets these prices, but the profits stay high even when the cost of crude oil drops.
This drains our local economy because money that should be used to hire staff or grow a business is spent on fuel instead.
This is a textbook example of an oligopoly, which is what happens when only a few big players control an entire industry. As a business owner, I value competition because it usually leads to better ideas and fairer prices.
However, since these companies own the refineries and pipelines, it is almost impossible for anyone else to compete with them.
High gas prices feel like a direct tax on hard work. Every extra dollar spent on these margins is a dollar taken out of our community. While big energy companies report record profits, the people doing the actual labour are the ones stuck with the bill.
This is a significant drag on our national growth.
There is a big gap between the idea of a "free market" and the reality of what we pay for gas and other basics in Canada.
In a healthy economy, high profits usually attract new companies that drive prices down. In the fuel sector, the barriers to entry are so high that the current owners are protected from competition. This allows them to keep a price floor that feels artificial.
For those of us trying to manage a budget and grow a business in 2026, this lack of fairness is frustrating.
These companies take a profit at every single stage, from the oil well to the refinery to the pump, while the rest of us deal with the consequences.
This concentrates wealth at the top and leaves less money for local investment.
It is time for a serious discussion about how these pricing strategies are hurting our economic health.