The retail price of Petroleum continues to be volatile, reflecting intense local market competition.

The Greater Victoria retail petroleum market is occupied by retailers with largely two different strategies.  One is those retailers, such as Peninsula Co-op, who retail petroleum as their core line of business, and the second are those whom use petroleum as a loss leader to generate traffic for some other core line of business, such as a food warehouse store.

Present frequent and significant fluctuations in the retail price of gasoline in the Greater Victoria market has been driven by various petroleum retails attempting to address their market share position.  This has resulted in frequent and significant retail price changes at a time when the price of crude oil and refined gasoline products has remained relatively stable.  The fluctuation in retail diesel price has not been impacted and has remained relatively stable, as has the cost of refined diesel product.

Peninsula Co-op's pricing strategy has and will continue to be that of following the retail market price.  Engaging the market into a price war presents considerable risk to Peninsula Co-op, as many other retailers have greater financial resources available to them through profits generated in other areas of their organization.  We have a responsibility to our members and staff to remain financially healthy.

It is difficult to predict how long this price environment will continue and we appreciate that this uncertainty may cause a level of frustration for some members.  While all consumers may benefit in the short term by purchasing at a reduced price point, focusing on long term pricing strategies remains the focus at Peninsula Co-op as it provides much stronger financial stability for our Co-op and our member/owners.

Peninsula Co-op rewards the loyalty of our member/owners for their contribution to our financial success through our annual patronage allocation.  Last year, members received a 5.0 cent per litre rebate on all their fuel purchases.  READ MORE >>>

We thank all our members for your interest in and support of Peninsula Co-op during a time of uncertain market prices.

Taxes

The following Taxes are included in the retail price of petroleum: