PETROLEUM PRICING
 



Charlottetown, Prince Edward Island, September 6, 2017 The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, September 6, 2017:

  • Gasoline prices will increase by 8.0 cents per litre (cpl);
  • Furnace and Stove Oil prices will increase by 4.0 cpl; and
  • Diesel prices will increase by 3.0 cpl.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 120.6 cpl to 121.8 cpl. Pump prices for diesel will range from 112.7 cpl to 113.9 cpl.

The maximum price for furnace oil will now amount to 76.3 cpl, plus tax.

Significant increases in the wholesale prices of gasoline, furnace oil and diesel since the Commission’s last adjustment now necessitate the unscheduled price increases announced today.

The impact of Hurricane Harvey continues to affect the supply and wholesale pricing of all three petroleum products. Prince Edward Island is not alone in facing such price increases. In recent days pump prices across Canada and indeed across North America have risen dramatically. Pump prices in Nova Scotia for example have risen 14.0 cpl since August 25th while pump prices across Canada now average 123.0 cpl.

The Commission will continue to monitor wholesale market pricing on a daily basis and meet again by week’s end to assess the situation at that time.

 

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Click here for published prices effective September 6, 2017

Posted: 2017/09/06