PETROLEUM PRICING

Charlottetown, Prince Edward Island, March 11, 2016 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Friday, March  11, 2016:

• Gasoline prices will increase by 5.0 cents per litre (cpl);
• Furnace and stove oil prices will increase by 3.1 cpl;
• Diesel prices will increase by 3.1 cpl; and
• There will be no change in propane prices at this time.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 90.7 cpl to 91.9 cpl.

The maximum price for furnace oil will now amount to 72.7 cpl, plus tax.

This unscheduled price change is required due to a dramatic increase in the wholesale price of gasoline, furnace oil and diesel. Over the past month the wholesale trading price for gasoline has increased by 55% while furnace oil has increased by 26%.

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