PETROLEUM PRICING

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

• There will be no change in the price of gasoline, furnace oil, stove oil or diesel at this time; and
• Propane prices will increase by 4.5 cents per litre (cpl) for Superior Propane,  by 3.9 cpl for Irving Energy Distribution and Marketing and by 4.0 cpl for Kenmac Energy Inc.

Pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 107.0 cpl to 108.1 cpl. Maximum before tax propane prices will now range from 73.3 cpl to 74.1 cpl.

The maximum price for furnace oil will continue to amount to 83.3 cpl, plus tax.

Relative price stability observed in the wholesale pricing of gasoline, furnace oil and diesel over the past two weeks allows for the continuance of existing prices. Indeed, notwithstanding the overall increase in pricing noted in neighboring jurisdictions over the past two weeks, gasoline prices on Prince Edward Island have been consistent and remain below prevalent prices in both Nova Scotia and New Brunswick.

Increased wholesale pricing for propane related to seasonal demand issues necessitates the increased pricing for this product announced today. 

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

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