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PETROLEUM PRICING
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Charlottetown, Prince Edward Island, February 1, 2019
—
The Island Regulatory and Appeals Commission approved
the following petroleum pricing decisions, effective 12:01 a.m.,
Friday, February 1, 2019:
-
Gasoline prices will decrease by 1.4 cents per litre (cpl);
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Furnace and stove oil prices will increase by 1.0 cpl;
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Diesel prices will increase by 1.0 cpl; and
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Propane prices will decrease by 2.2 cpl for Irving Energy
Distribution and Marketing, by 1.1 cpl for Superior Propane and
there will be no change for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded
gasoline at self-serve outlets will now range from 97.5 cpl to 98.7 cpl.
Pump prices for diesel will now range from 125.1 cpl to 126.3 cpl.
Maximum before tax propane prices will now range from 76.1 cpl to 77.8
cpl.
The maximum price for furnace oil is now 91.9 cpl, plus tax.
Reduced demand and high inventory levels led to a decrease in gasoline
and propane prices today. Conversely, continued high demand for heating
fuels increased furnace oil and diesel prices.
A breakdown of the components of local prices is as follows:
| |
Regular Gas |
Diesel |
|
Furnace Oil |
|
RETAIL PUMP PRICES |
Self-Serve |
|
Benchmark Price |
70.9 |
|
Benchmark Price |
54.6 |
78.5 |
|
+ Retail Margin |
21.0 |
|
+ Wholesale Margin |
5.0 |
5.0 |
|
= Maximum Price |
91.9 |
|
= Base Price |
59.6 |
83.5 |
|
+ Tax (5%) |
4.6 |
|
+ Fed Excise Tax |
10.0 |
4.0 |
|
= Maximum Price (Incl
Tax) |
96.5 |
|
+ Prov Tax |
9.68 |
15.83 |
|
|
|
|
= Tank Truck Price |
79.3 |
103.3 |
|
|
|
| |
Min. |
Max. |
Min. |
Max. |
|
|
|
|
+ Retail Margin |
5.5 |
6.5 |
5.5 |
6.5 |
|
|
|
|
+ HST (15%) |
12.7 |
12.9 |
16.3 |
16.5 |
|
|
|
|
= Pump Price |
97.5 |
98.7 |
125.1 |
126.3 |
|
|
|
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Prices in Canadian Cents
per Litre (cpl) |
The Commission’s next scheduled price adjustment will be on February
15, 2019.
—30—
Click here for published prices effective
February 1, 2019
Posted: 2019/02/01
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