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PETROLEUM PRICING
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Charlottetown, Prince Edward Island, February 15, 2019
—
The Island Regulatory and Appeals Commission approved
the following petroleum pricing decisions, effective 12:01 a.m.,
Friday, February 15, 2019:
-
Gasoline prices will increase by 1.6 cents per litre (cpl);
-
Furnace and stove oil prices will increase by 1.4 cpl;
-
Diesel prices will increase by 1.0 cpl; and
-
Propane prices will increase by 3.4 cents per litre (cpl) for
Superior Propane, by 1.0 cpl for Kenmac Energy Inc. and by 3.7
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 99.4 cpl to 100.5 cpl.
Pump prices for diesel will now range from 126.3 cpl to 127.4 cpl.
Maximum before tax propane prices will now range from 78.8 cpl to 80.7
cpl.
The maximum price for furnace oil will now amount to 93.3 cpl, plus tax.
Cold temperatures and increased demand over the past two weeks have
raised the market price on the New York Mercantile Exchange for all
petroleum products.
A breakdown of the components of local prices is as follows:
| |
Regular Gas |
Diesel |
|
Furnace Oil |
|
RETAIL PUMP PRICES |
Self-Serve |
|
Benchmark Price |
72.3 |
|
Benchmark Price |
56.2 |
79.5 |
|
+ Retail Margin |
21.0 |
|
+ Wholesale Margin |
5.0 |
5.0 |
|
= Maximum Price |
93.3 |
|
= Base Price |
61.2 |
84.5 |
|
+ Tax (5%) |
4.7 |
|
+ Fed Excise Tax |
10.0 |
4.0 |
|
= Maximum Price (Incl
Tax) |
98.0 |
|
+ Prov Tax |
9.68 |
15.83 |
|
|
|
|
= Tank Truck Price |
80.9 |
104.3 |
|
|
|
| |
Min. |
Max. |
Min. |
Max. |
|
|
|
|
+ Retail Margin |
5.5 |
6.5 |
5.5 |
6.5 |
|
|
|
|
+ HST (15%) |
13.0 |
13.1 |
16.5 |
16.6 |
|
|
|
|
= Pump Price |
99.4 |
100.5 |
126.3 |
127.4 |
|
|
|
|
Prices in Canadian Cents
per Litre (cpl) |
The Commission’s next scheduled price adjustment will be on
March 1, 2019.
—30—
Click here for published prices effective
February 15, 2019
Posted: 2019/02/15
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