PETROLEUM PRICING

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

• Gasoline prices will increase by 4.0 cents per litre (cpl);

• Furnace and Stove Oil prices will increase by 3.5 cpl;

• Diesel prices will increase by 3.6 cpl; and

• Propane prices will decrease by 1.3 cpl for Superior Propane, by 2.0 cpl for Irving Energy Distribution and Marketing and increase by 1.0 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 130.0 cpl to 131.1 cpl. Pump prices for diesel will range from 133.6 cpl to 134.8 cpl. Maximum before tax propane prices will now range from 75.9 cpl to 78.4 cpl.

The maximum price for furnace oil will now amount to 95.7 cpl, plus tax.

Escalated wholesale pricing related to a combination of increased seasonal demand and a number of supply interruptions have necessitated the pricing adjustments announced today. Prince Edward Island is not alone in facing higher petroleum product prices. Indeed, Island gasoline pricing continues to compare favourably with many areas of the country. As of April 27th, average pump prices in Montreal were 139.4 cpl, Ottawa 136.8 cpl, Toronto 136.7 cpl, with the national average at 138.2 cpl.

The Commission’s next scheduled price adjustment will be on May 15, 2018.

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