PETROLEUM PRICING

Charlottetown, Prince Edward Island, January 1, 2017 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Sunday, January 1, 2017:

• Gasoline prices will increase by 5.5 cents per litre (cpl);
• Furnace and stove oil prices will increase by 3.0 cpl;
• Diesel prices will increase by 2.5 cpl; and
• Propane prices will increase by 2.0 cents per litre (cpl) for Superior Propane,  by 3.0 cpl for Irving Energy Distribution and Marketing and by 3.3 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 115.0 cpl to 116.2 cpl. Maximum before tax propane prices will now range from 76.3 cpl to 77.4 cpl.

The maximum price for furnace oil will now amount to 81.9 cpl, plus tax.

Significant increases observed in the wholesale pricing of all petroleum products over the past two weeks now necessitate the pricing adjustments announced today.

The Commission's next scheduled price adjustment will be on January 15, 2017.

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