PETROLEUM PRICING

Charlottetown, Prince Edward Island, July 1, 2015 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, July 1, 2015:

• Gasoline prices will decrease by 1.0 cent per litre (cpl);
• Furnace and stove oil prices will decrease by 2.5 cpl;
• Diesel prices will decrease by 2.0 cpl; and
• Propane prices will decrease by 3.0 cpl for Superior Propane, by 3.6 cpl for Irving Energy Distribution and Marketing and by 3.0 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 119.0 cpl to 120.2 cpl. Maximum before tax propane prices will now range from 61.0 cpl to 63.2 cpl. 

The maximum price for furnace oil will now amount to 81.2 cpl plus tax.

Improved supply and demand market dynamics for all products over the past two weeks now allow for the price reductions announced today.

The Commission's next scheduled price adjustment will be on July 15, 2015.

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