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PETROLEUM PRICING
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Charlottetown, Prince Edward Island,
August 23, 2019 –
The Island Regulatory and Appeals Commission approved the following
petroleum prices effective
12:01 a.m., Friday, August 23,
2019:
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Gasoline prices will increase by 0.5 cents per litre (cpl);
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Furnace oil prices will increase by 1.6 cpl;
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Diesel prices will increase by 1.1 cpl; and
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There will be no change in propane prices at this time.
Including taxes,
pump prices for regular unleaded gasoline at self-serve outlets will now
range from 115.8 cpl to 117.0 cpl. Pump prices for self-serve diesel
will range from 124.0 cpl to 125.1 cpl. Including taxes, the maximum
price for furnace oil will be is 94.2
A breakdown of the components of local prices is as follows:
|
|
Regular Gas |
Diesel |
|
Furnace Oil |
|
RETAIL PUMP PRICES |
Self-Serve |
|
Benchmark Price |
68.7 |
|
Benchmark Price |
66.1 |
72.1 |
|
+ Retail Margin |
21.0 |
|
+ Wholesale Margin |
5.0 |
5.0 |
|
= Maximum Price |
89.7 |
|
= Base Price |
71.1 |
77.1 |
|
+ Tax (5%) |
4.5 |
|
+ Fed Excise Tax |
10.0 |
4.0 |
|
= Maximum Price (Incl Tax) |
94.2 |
|
+ Prov Tax |
9.68 |
15.83 |
|
|
|
+ Carbon Levy |
4.42 |
5.37 |
|
|
|
= Subtotal |
95.2 |
102.3 |
|
|
|
|
Min |
Max |
Min |
Max |
|
|
|
+ Retail Margin |
5.5 |
6.5 |
5.5 |
6.5 |
|
|
|
+ HST (15%) |
15.1 |
15.3 |
16.2 |
16.3 |
|
|
|
= Pump Price |
115.8 |
117.0 |
124.0 |
125.1 |
|
|
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Prices in Canadian Cents per Litre |
The Commission’s next scheduled price adjustment is August 30, 2019.
For more information on petroleum prices, visit
irac.pe.ca.
—30—
Click here for published prices effective
August 23, 2019
Posted: 2019/08/23
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