Order No. P.971229-3

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.

Monday, the 29th day of December, A.D., 1997

BEFORE

Wayne D. Cheverie, Q.C., Chair
Ginger Breedon, Vice-Chair
Debbie MacLellan, Commissioner

Decision and Order

On 15 December1997, Mr. Jeff C. Zettler, Territory Manager 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, based on average crude oil costs for the two-month period of October/November, 1997.

The Commission also gave consideration to this application and others this date and reviewed the pricing adjustments requested by Imperial Oil Limited based on the October/November, 1997 average cost of Brent marker crude.

Following this consideration, the Commission accepted the calculations supplied by the Applicant, and determined that it would be just and reasonable to increase Imperial's dealer and posted consumer prices by 1.1 cents per litre, effective 12:01 a.m., 1 January 1998, and ordered these increases based on the crude oil cost component of pricing, in accordance with the attached Order.

THE COMMISSION HEREBY ORDERS AS FOLLOWS:

1. THAT the following wholesale tank truck prices are to be charged dealers in Prince Edward Island supplied by Imperial Oil Limited, effective 12:01 a.m. on Thursday, 1 January 1998:

PRODUCT

 CENTS PER LITRE

(INCLUDING Federal Excise

and Provincial taxes)
Regular unleaded gasoline 51.2
Mid-Grade unleaded gasoline 53.2
Premium unleaded gasoline 55.1
Low Sulphur Diesel 51.9

2. THAT the following wholesale posted consumer tank truck prices (which prices do not include Provincial tax or seven per cent G.S.T.) shall be in effect in the Province of Prince Edward Island for the wholesaler Imperial Oil Limited, effective 12:01 a.m. on Thursday, 1 January 1998:

PRODUCT

 CENTS PER LITRE

(INCLUDING Federal

Excise tax)
Regular unleaded gasoline 43.4
Mid-Grade unleaded gasoline 45.4
Premium unleaded gasoline 47.3
Diesel 39.4
Low Sulphur Diesel 40.4
Stove Oil 37.7
Furnace Oil 34.4

3. THAT the above dealer prices, with seven per cent G.S.T. added, and the above posted consumer prices, with Provincial Tax (where applicable) and seven per cent G.S.T. added, shall be indicated on all documents accompanying deliveries of these products.

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 29th day of DECEMBER, A.D., 1997.

BY THE COMMISSION:

Chairman

Vice-Chair

Commissioner