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PETROLEUM PRICING
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Charlottetown, Prince Edward Island,
August 16, 2019 –
The Island Regulatory and Appeals Commission approved the following
petroleum prices effective
12:01 a.m., Friday, August 16,
2019:
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There will be no change in the price of gasoline or furnace oil;
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Diesel
prices will increase by 1.5 cents per litre (cpl);
and
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Propane
prices will increase by 0.2 cpl for Superior Propane, by 0.3 cpl for
Island Petroleum, by 0.6 cpl for Irving Energy Distribution and
Marketing and will decrease by 1.0 cpl for both Kenmac Energy Inc.
and Noonan Petroleum.
Including taxes,
pump prices for regular unleaded gasoline at self-serve outlets will
continue to range from 115.2 cpl to 116.4 cpl. Pump prices for
self-serve diesel will now range from 122.7 cpl to 123.9 cpl. Including
taxes, the maximum price for furnace oil will continue to be is 92.5.
Maximum before tax propane prices will range from 70.1 to 71.5 cpl.
A breakdown of the components of local prices is as follows:
|
|
Regular Gas |
Diesel |
|
Furnace Oil |
|
RETAIL PUMP PRICES |
Self-Serve |
|
Benchmark Price |
67.1 |
|
Benchmark Price |
65.6 |
71.0 |
|
+ Retail Margin |
21.0 |
|
+ Wholesale Margin |
5.0 |
5.0 |
|
= Maximum Price |
88.1 |
|
= Base Price |
70.6 |
76.0 |
|
+ Tax (5%) |
4.4 |
|
+ Fed Excise Tax |
10.0 |
4.0 |
|
= Maximum Price (Incl Tax) |
92.5 |
|
+ Prov Tax |
9.68 |
15.83 |
|
|
|
+ Carbon Levy |
4.42 |
5.37 |
|
|
|
= Subtotal |
94.7 |
101.2 |
|
|
|
|
Min |
Max |
Min |
Max |
|
|
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+ Retail Margin |
5.5 |
6.5 |
5.5 |
6.5 |
|
|
|
+ HST (15%) |
15.0 |
15.2 |
16.0 |
16.2 |
|
|
|
= Pump Price |
115.2 |
116.4 |
122.7 |
123.9 |
|
|
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Prices in Canadian Cents per Litre |
The Commission’s next scheduled price adjustment is August 23, 2019.
—30—
Click here for published prices effective
August 16, 2019
Posted: 2019/08/16
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