PETROLEUM PRICING

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

• There will be no change in the price of gasoline;
• Furnace and stove oil prices will increase by 2.0 cents per litre (cpl);
• Diesel prices will increase by 1.5 cpl; and
• Propane prices will decrease by 2.2 cpl for Superior Propane, by 1.0 cpl for Irving Energy Distribution and Marketing and there will be no change in price for Kenmac Energy Inc.

Pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 90.2 cpl to 91.3 cpl. Maximum before tax propane prices will now range from 65.5 cpl to 67.7 cpl.

The maximum price for furnace oil will now amount to 69.6 cpl, plus tax.

While the wholesale price of gasoline remains relatively stable, the wholesale price of both furnace oil and diesel, due to seasonal demand, has increased as of late necessitating the price adjustments announced today.

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