GATINEAU, QC, July 2, 2026 /CNW/ – The Competition Bureau has reached an agreement with BVD Petroleum Inc. to resolve concerns related to its proposed acquisition of certain fueling assets from Cenovus Energy Inc. and Husky Canadian Petroleum Marketing Partnership. BVD operates Petro-Canada and Petro-Pass branded fueling stations and Cenovus operates Esso branded stations.
The Bureau concluded that the transaction would likely reduce competition between a Petro-Canada and an Esso gas station. These stations are located near one another along the Queen Elizabeth Way near the community of Glendale, between St. Catharines and Niagara Falls, Ontario.
Gas stations close to one another often compete for drivers by reacting to each other’s prices. The Bureau determined that, without a remedy, the transaction would remove important local competition and could lead to higher gas prices in the area.
To address the Bureau’s concerns, BVD has agreed to sell its Petro-Canada gas station and Petro-Pass cardlock facility to a buyer to be approved by the Commissioner of Competition. The Bureau is satisfied that this agreement resolves the competition concerns raised by the proposed transaction.
The Bureau is focused on protecting competition in sectors that matter the most to Canadians, including those at the heart of affordability concerns like retail gas.
Quotes
“Competitive gasoline markets are necessary to keep prices in check. This agreement will preserve competition for Canadians travelling between St. Catharines and Niagara Falls by ensuring that BVD’s acquisition does not eliminate important local competition.”
Jeanne Pratt
Interim Commissioner of Competition
Quick facts
- BVD Petroleum Inc. is a privately held Canadian fuel retailer and service provider headquartered in Brampton, Ontario.
- Cenovus Energy Inc. is a Canadian integrated energy company headquartered in Calgary, Alberta.
- The Competition Bureau does not regulate gasoline or diesel prices, companies operating in Canada are free to set their own prices.
- In July 2023, the Bureau reached an agreement with Shell Canada Limited and its affiliates to preserve competition in the supply of retail fuel in western Canada.
- The Bureau reviews mergers and acquisitions to determine whether they are likely to harm competition, including in local gasoline markets.
- Effective merger control is the Bureau’s first line of defense in its efforts to protect competition.
- When the Bureau finds that a merger is likely to substantially lessen or prevent competition, it may seek a remedy, such as the sale of assets, to protect consumers and businesses.
- Consent agreements are registered with the Competition Tribunal. They are legally binding and have the force and effect of a court order.
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
View original content: http://www.newswire.ca/en/releases/archive/July2026/02/c8059.html