Order No. P.930112-2
IN THE MATTER of the Petroleum Products Act, R.S.P.E.I. 1988, Cap P-5.1
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IN THE MATTER of an application filed under Section 32 of the Petroleum Products Act, supra, by IMPERIAL OIL LIMITED for increases of 1.1 cents per litre in the prices of all products contained in its dealer and posted consumer tank truck pricing schedules based on increased crude oil costs, and an application for a corresponding 1.1 cents per litre decrease in the prices of all products contained in its dealer tank truck pricing schedule due to market conditions.
Tuesday, the 12th day of January, A.D., 1993
BEFORE
Linda Webber, Chairman
John Blakney, Vice-Chairman
Decision and Order
WHEREAS on 11 December 1992, Ms. Debbie L. Miller, Accounts Executive NB/PEI for Imperial Oil Limited ("Imperial") filed with the Commission an application under Section 32 of the Petroleum Products Act requesting approval for an increase of 1.1 cents per litre in all product prices contained in its dealer and posted consumer tank truck pricing schedules, due to increased crude oil costs for the period based on average crude oil costs from the two-month period of March and April 1991 to the two-month period August and September 1992;
AND WHEREAS the Commission reviewed this application at its meeting of 15 December 1992 and immediately thereafter sought public input on or before 4 January 1993;
AND WHEREAS no public input was received with respect to this matter;
AND WHEREAS the Commission reviewed this application at its meeting this date and while it was noted that the last base period for crude oil cost adjustments for Imperial was actually based on the two-month average cost of crude oil for February-March 1991 and the last base period which could be used in an application filed by 15 December 1992 would be October-November 1992, the Commission accepted that a 1.1 cents per litre increase in all product prices is justified in light of the increased crude oil costs for the period under review;
AND WHEREAS the Commission also received an application dated 11 December 1992 from Ms. Miller on behalf of Imperial Oil Limited requesting that should the application based on crude oil costs be approved, that the Commission approve a corresponding decrease of 1.1 cents per litre on all products contained in its dealer tank truck pricing schedule; due to competitive reasons;
THE COMMISSION THEREFORE ORDERS AS FOLLOWS:
THAT the prices of all products contained in the posted consumer tank truck pricing schedules of Imperial Oil Limited shall be increased by 1.1 cent per litre, at 12:01 a.m. on 14 January 1993, and the following posted consumer tank truck prices (which prices do not include Provincial tax or seven per cent G.S.T.) shall remain in effect in the Province of Prince Edward Island until otherwise ordered by the Commission:
PRODUCT
CENTS PER LITRE (INCLUDING Federal Excise Tax )
Regular unleaded gasoline 42.8 Mid-Grade unleaded gasoline 43.2 Premium unleaded gasoline 43.7 Diesel 36.3 Stove Oil 35.6 Furnace Oil 33.3 DATED at CHARLOTTETOWN this 12th day of JANUARY. A.D., 1993.
BY THE COMMISSION:
Chairman
Vice-Chairman
