PETROLEUM PRICING

Charlottetown, Prince Edward Island, March 1, 2018 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, March 1, 2018:

• Gasoline prices will increase by 3.5 cents per litre (cpl);

• Furnace and Stove Oil prices will increase by 3.8 cpl;

• Diesel prices will increase by 3.5 cpl; and

• Propane prices will increase by 1.2 cpl for Superior Propane, by 1.0 cpl for Kenmac Energy Inc. and reduce by 2.0 cpl for Irving Energy Distribution and Marketing.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 116.8 cpl to 118.0 cpl. Pump prices for diesel will range from 126.2 cpl to 127.3 cpl. Maximum before tax propane prices will now range from 86.9 cpl to 89.9 cpl. 

The maximum price for furnace oil will now amount to 89.3 cpl, plus tax. 

Increased demand combined with reduced inventories have pressured wholesale pricing as of late necessitating the price adjustments announced today.

The Commission's next scheduled price adjustment will be on March 15, 2018

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