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Unregulating gas leads to lower gas prices.

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This article from The Guardian say it best.

"Studies and reviews of price regulation have concluded that an open unregulated marketplace is the best way to ensure competitive prices."

So if we want to reduce gas prices, we need to get rid IRAC out of the business of regulating prices as an open market is good when there is enough competition.

Regulating most products will lead to the increase in price vs an un-regulated price, especially gas.

"Regulated markets have cost consumers on average an additional 1.5 cents per litre more for gasoline. If all markets in Canada were regulated, consumers would be out-of-pocket an estimated $500 million each year."

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