Madam Speaker, I thank my colleague for bringing the issue of increases in gasoline, diesel and home heating prices to the attention of the House.
Just last week following a question from the same member, the Minister of Industry asked the petroleum industry to meet with him so as to explain the reasons for recent diesel fuel price increases in particular.
The fact is that all members of the government are concerned about this issue since we all represent consumers.
The federal Competition Bureau must ensure that prices are determined by market forces and that the provisions of the Competition Act are respected. I can assure the hon. member that if the Competition Bureau finds that companies or individuals have engaged in anti-competitive conduct, it will not hesitate to take immediate and appropriate action under the Competition Act.
The fact is that no federal agency has the authority to directly regulate retail prices except in emergency situations. Consumers who may be asking the hon. member to have gas prices regulated should take their message to the provincial governments. Presently only Prince Edward Island and Quebec have elected to do so in some manner.
Finally, we must remember that there are also outside factors influencing the price of fuel. Such factors include cutbacks by OPEC in crude oil production, an increase in demand for heating fuels and low levels of stocks in industrialized countries.