PETROLEUM PRICING


 

Charlottetown, Prince Edward Island, July 25, 2019 — The Island Regulatory and Appeals Commission approved the following petroleum prices in an unscheduled price adjustment, effective 12:01 a.m., Thursday, July 25, 2019:

  •  Gasoline prices will prices will decrease by 4.0 cents per litre (cpl); and

  • There will be no change in furnace oil, diesel or propane prices at this time.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 121.0 cpl to 122.1 cpl. Pump prices for self-serve diesel will continue to range from 126.5 cpl to 127.7 cpl. Including taxes, the maximum price for furnace oil will continue to be 97.8 cpl.

A drop in the wholesale price of gas this week is lowering pump prices across the country.   

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

70.6

74.3

 

+ Retail Margin

21.0

+ Wholesale Margin

5.0

5.0

 

= Maximum Price

93.1

= Base Price

75.6

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

99.7

104.5

 

 

 

Min

Max

Min

Max

 

 

+ Retail Margin

5.5

6.5

5.5

6.5

 

 

+ HST (15%)

15.8

15.9

16.5

16.7

 

 

= Pump Price

121.0

122.1

126.5

127.7

 

 

Prices in Canadian Cents per Litre

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

—30—

Click here for published prices effective July 25, 2019

Posted: 2019/07/25