PETROLEUM PRICING

Charlottetown, Prince Edward Island, November 15, 2016 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Tuesday, November 15, 2016:

• Gasoline prices will decrease by 6.1 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 4.4 cpl;
• Diesel prices will decrease by 4.4 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 99.9 cpl to 101.1 cpl.

The maximum price for furnace oil will now amount to 78.9 cpl, plus tax.

The gasoline pipeline which had been shut down due to an explosion is now back in service. Additionally, refineries which had been effected by seasonal maintenance interruptions are now, for the most part, back in production. Accordingly, inventory levels have improved and, as a result, wholesale prices have dropped significantly thus enabling the price reductions announced today.

The Commissions next scheduled adjustment will be on December 1, 2016.

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