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4. General

4.1 What is the Office of Petroleum Price Information?

The Office of Petroleum Price Information is being established by the Minister of Natural Resources Canada to track changes in the prices of oil and petroleum products and to provide Canadians with clear, current information on these changes.
 
The Government of Canada has allocated $15 million over five years for the creation and maintenance of this Office. This is a long-term investment towards providing Canadians with clear and up-to-date information on the prices of oil and petroleum products and information on energy efficiency.
 
Currently, Natural Resources Canada is consulting with key stakeholders, industry and consumers to determine the best structure and governance model for this Office so that it will be most beneficial to the needs of all Canadians.
 
By establishing this Office, which is anticipated to be fully operational in the coming months, Natural Resources Canada is taking action to improve market transparency in addition to helping Canadians deal with high energy costs.
 
The Office will provide Canadians with current information on its Web site about crude oil and petroleum product prices. The Government of Canada believes that Canadians need clear, up-to-date information about how the oil market works and what they themselves can do to reduce their energy costs.
 

4.2 When was the Office of Petroleum Price Information created?

The creation of the Office of Petroleum Price Information was announced on October 6, 2005, as part of a three-fold plan to provide financial assistance to low-income Canadians, to help families lower their future heating costs, and to enhance market transparency.
 
The Office will give Canadians single-window access to consumer information on prices for crude oil and petroleum products and government programs in relevant areas like energy efficiency.