Order No. P.920707-4
IN THE MATTER of the Petroleum Products Act, Stats. P.E.I. 1990, Cap 43;
- and -
IN THE MATTER of an application filed under Section 32 of the Petroleum Products Act, supra, by PETR0-CANADA.
Tuesday, the 7th day of July, A.D., 1992
BEFORE
Linda Webber, Chairman
John Blakney, Vice-Chairman
Decision and Order
WHEREAS by application dated 12 June 1992, Petro-Canada applied for upward revisions in the prices of all products contained in its dealer and posted consumer tank truck pricing schedules.The Applicant as well filed supporting documentary evidence with its application. This application was the subject of a press release on 17 June 1992 in which it was announced that interventions or written comments with respect to this application would be accepted by the Commission up to and including 30 June 1992. This application and supporting documentation was distributed to the Department of Energy & Forestry at its request. No other interested parties sought this information, nor did any party file comments with respect to the application by the announced deadline. A letter commenting generally on petroleum prices and dated 6 July 1992 from Anthony Miner of Tryon was faxed to the Commission Office on the same date. The comments made in this letter were not based on a review of the various applications for crude oil cost adjustments presently before the Commission.
In its application, Petro-Canada sought a price increase of 1.5 cents per litre, based entirely on increased crude oil related costs. The application was filed in accordance with the direction given the Company by the Public Utilities Commission in its Decision and Order No. P.910515. The application was based on a comparison of December, 1991 January, 1992 average and April, 1992 -May, 1992 average Brent crude oil costs. It was noted in the supporting documentation that Petro-Canada's crude oil costs were similarly affected.
Having considered the application and the supplementary information filed, the Commission finds that the information available and the evidence submitted supports the requested increase, and such increase is therefore approved effective 12:01 a.m. on Monday, 13 July 1992.
The base period for comparison in the next application of Petro-Canada for a crude cost adjustment will be April-May, 1992, and must also take into consideration any fluctuations from that time forward.
THEREFORE THE COMMISSION ORDERS AS FOLLOWS:
1. THAT the following wholesale tank truck prices are to be charged dealers in Prince Edward Island supplied by Petro-Canada effective 12:01 a.m. on Monday, 13 July 1992:
PRODUCT
CENTS PER LITRE
(INCLUDING Federal Excise
and Provincial Taxes)Regular Unleaded Gasoline 52.1 Mid-Grade Unleaded Gasoline 53.3 Premium Unleaded Gasoline 54.6 Diesel Fuel 47.7 2. THAT the above prices, with seven per cent G.S.T. added, shall be indicated on all documents accompanying deliveries of these products to said dealers.
3. THAT the following wholesale posted consumer tank truck prices (which prices do not include Provincial tax or seven percent G.S.T.) shall be in effect in the Province of Prince Edward Island for the wholesaler Petro-Canada, effective 12:01 a.m. on Monday, 13 July 1992:
PRODUCT |
CENTS PER LITRE (INCLUDING Federal Excise Taxes) |
| Regular Unleaded Gasoline | 43.5 |
| Mid-Grade Unleaded Gasoline | 44.0 |
| Premium Unleaded Gasoline | 44.5 |
| Diesel Fuel | 36.1 |
| Stove Oil | 35.6 |
| Furnace Oil | 33.9 |
4. THAT the prices quoted in this Order, with adjustments resulting from tax changes only, shall remain in effect until otherwise ordered by the Commission.
DATED at CHARLOTTETOWN this 7th day of JULY, A.D., 1992.
BY THE COMMISSION:
Chairman
Vice-Chairman