PETROLEUM PRICING

Charlottetown, Prince Edward Island, June 15, 2019 — The Island Regulatory and Appeals Commission approved the following petroleum prices, effective 12:01 a.m., Saturday, June 15, 2019:

•  Gasoline prices will decrease by 2.0 cents per litre (cpl);

•  Furnace prices will decrease by 2.8 cpl;

•  Diesel prices will decrease by 2.0 cpl; and

•  Propane prices will decrease by 2.2 cpl for Superior Propane, by 2.8 cpl for Kenmac Energy Inc., by 2.5 cpl for Island Petroleum and by 2.3 cpl for Irving Energy Distribution and Marketing.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will range from 114.1 cpl to 115.2 cpl. Pump prices for self-serve diesel will range from 123.1 cpl to 124.2 cpl. Including taxes, the maximum price for furnace oil is 93.6 cpl. Maximum before tax propane prices will range from 70.1 to 70.6 cpl. 

The wholesale price of petroleum continues to drop on the New York Mercantile Exchange as a result of increased inventories in the US, resulting in lower prices. 

As of June 14, the national average price of gasoline was 120.1 cpl. Pump prices were 116.8 cpl in Moncton, 108.6 cpl in Halifax, and 127.7 cpl in Montreal.  

A breakdown of the components of local prices is as follows: 

 The Commission’s next scheduled price adjustment is July 1, 2019.

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