PETROLEUM PRICING


 

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

  •  Gasoline prices will increase by 3.0 cents per litre (cpl);

  •  Furnace prices will not change;

  •  Diesel prices will decrease by 2.0 cpl; and

  •  Propane prices will increase by 0.8 cpl for Superior Propane, by 0.6 cpl for Island Petroleum, by 1.0 cpl for Irving Energy Distribution and Marketing, and there will be no change for Kenmac Energy Inc.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 125.6 cpl to 126.7 cpl. Pump prices for self-serve diesel will range from 126.5 cpl to 127.7 cpl. Including taxes, the maximum price for furnace oil is 97.8. Maximum before tax propane prices will range from 70.1 to 70.6 cpl.

Gas prices continue to rise across the country. As of July 12th, prices were 125.2 cpl in Moncton; 122.5 cpl in Halifax; 135.3 cpl in Montreal; 126.8 cpl in Ottawa; and 126.7 cpl in Toronto. The national average is 128.6 cpl.  

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

 

Regular Gas

Diesel

 

Furnace Oil

RETAIL PUMP PRICES

Self-Serve

 

Benchmark Price

72.1

Benchmark Price

74.6

74.3

 

+ Retail Margin

21.0

+ Wholesale Margin

5.0

5.0

 

= Maximum Price

93.1

= Base Price

79.6

79.3

 

+ Tax (5%)

4.7

+ Fed Excise Tax

10.0

4.0

 

= Maximum Price (Incl Tax)

97.8

+ Prov Tax

9.68

15.83

 

 

+ Carbon Levy

4.42

5.37

 

 

= Subtotal

103.7

104.5

 

 

 

Min

Max

Min

Max

 

 

+ Retail Margin

5.5

6.5

5.5

6.5

 

 

+ HST (15%)

16.4

16.5

16.5

16.7

 

 

= Pump Price

125.6

126.7

126.5

127.7

 

 

Prices in Canadian Cents per Litre

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

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Click here for published prices effective July 15, 2019

Posted: 2019/07/15