PETROLEUM PRICING

Charlottetown, Prince Edward Island, September 15, 2018 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Saturday, September 15, 2018:

• Gasoline prices will decrease by 2.9 cents per litre (cpl);

• Furnace and stove oil prices will increase by 2.0 cpl;

• There will be no change in the price of diesel; and

• Propane prices will increase by 2.4 cents per litre (cpl) for Superior Propane, by 2.6 cpl for Kenmac Energy Inc. and by 3.5 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 124.9 cpl to 126.0 cpl. Pump prices for diesel will continue to range from 135.7 cpl to 136.9 cpl. Maximum before tax propane prices will now range from 82.3 cpl to 83.2 cpl.

The maximum price for furnace oil will now amount to 96.3 cpl, plus tax. 

Changes in wholesale pricing over the past two weeks account for the price adjustments announced today. Despite wide ranging volatility in wholesale gasoline pricing, Prince Edward Island’s gasoline pricing continues to compare favourably with most regions of the country. As at September 14th, pump prices in Moncton were 126.7 cpl, New Glasgow 123.4 cpl, Montreal 144.7 cpl, Toronto 131.0 with the national average at 135.3 cpl.

The Commission’s next scheduled price adjustment will be on October 1, 2018.

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