PETROLEUM PRICING



Charlottetown, Prince Edward Island, November 8, 2018 The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, November 8, 2018:

  • Gasoline prices will decrease by 3.3 cents per litre (cpl);

  • Furnace oil and stove oil prices will decrease by 2.3 cpl;

  • Diesel prices will decrease by 2.2 cpl; and

  • There will be no change in propane prices at this time.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 114.1 cpl to 115.2 cpl. Pump prices for diesel will now range from 139.2 cpl to 140.3 cpl. Maximum before tax propane prices will continue to range from 82.2 cpl to 83.5 cpl.

The maximum price for furnace oil will now be 101.3 cpl, plus tax.

A number of factors have combined to impact wholesale market pricing as of late, including:

  • A number of refineries which had previously been shut down for seasonal maintenance have now returned to service;

  • Gasoline inventory levels are high; and

  • The wind down of harvest related activities has reduced the overall demand for diesel.

This observed reduction in wholesale pricing now affords the unscheduled pricing adjustments announced today. 

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

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Click here for published prices effective November 8, 2018

Posted: 2018/11/08