PETROLEUM PRICING

Charlottetown, Prince Edward Island, January 1, 2016 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Friday, January 1, 2016:

• There will be no change in the price of gasoline;
• Furnace and stove oil prices will decrease by 2.0 cents per litre (cpl);
• Diesel prices will decrease by 2.0 cpl; and
• Propane prices will increase by 0.2 cpl for Superior Propane, and decrease by 1.3 cpl for Irving Energy Distribution and Marketing, and by 1.5 cpl for Kenmac Energy Inc.

Pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 95.9 cpl to 97.0 cpl. Maximum before tax propane prices will now range from 67.7 cpl to 69.7 cpl.

The maximum price for furnace oil will now amount to 70.6 cpl, plus tax.

While the wholesale price of gasoline has stabilized in recent days, the wholesale prices of furnace oil and diesel have moderated lately allowing for the price adjustments announced today.

The Commission's next scheduled price adjustment will be on January 15, 2016.