PETROLEUM PRICING

Charlottetown, Prince Edward Island, November 1, 2012 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, November 1, 2012:

• Gasoline prices will decrease by 1.5 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 2.0 cpl;
• Diesel prices will decrease by 2.5 cpl; and
• Propane prices will increase by 2.0 cpl for Superior Propane, by 1.3 cpl for Irving Energy Distribution and Marketing and by 1.6 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 119.4 cpl to 120.4 cpl.

The maximum price for furnace oil will now amount to 107.3 cpl plus GST.

Continued decreases in the wholesale price of gasoline and distillate petroleum products since the Commission’s last price adjustment now allow the above described petroleum product price decreases.

The Commission's next scheduled price adjustment will be on November 15, 2012.

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