Canadian Petroleum Products Institute (CPPI) welcomes opportunity to address petroleum product market volatility concerns

OTTAWA, May 12 /CNW/ - The Canadian Petroleum Products Institute (CPPI) understands the frustration and concerns of Canadians regarding fluctuating fuel prices.  The Institute will fully cooperate with the federal Industry Minister Tony Clement's request to appear before a parliamentary committee to discuss petroleum market dynamics.

"We have done this in the past, and we will do it again," said Peter Boag, CPPI president.  "CPPI members conduct their business ethically, professionally and in full compliance with the Competition Act.  CPPI welcomes the opportunity to discuss the factors behind current market volatility."

"Global crude markets, the North American wholesale market for refined petroleum products, and local retail market dynamics all contribute to the price Canadians pay at the pump," noted Boag.  "Despite the current volatility, Canadians benefit from a very competitive petroleum industry and pay pump prices that are among the lowest in the western world."

The Canadian Petroleum Products Institute (CPPI) is an association of major Canadian oil companies involved in the refining, distribution, and marketing of petroleum products.   CPPI's work focuses on advocating public policy and regulation that serves the long term interests of the Canadian consumer and of the Canadian petroleum industry.

Visit the Canadian Petroleum Products Institute website for more information - cppi.ca

SOURCE Canadian Petroleum Products Institute

For further information:

CPPI National Office
613.232.3709

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