Order No. P.980625-4
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 IRVING OIL LIMITED for increases of 0.4 cent 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.
Thursday, the 25th day of June, A.D., 1998
BEFORE
Wayne D. Cheverie, Q.C., Chair
Ginger Breedon, Vice-Chair
Debbie MacLellan, Commissioner
Decision and Order
On 15 June 1998, Ms. Claudette Maxwell, Pricing Representative for Irving Oil Limited ("Irving"), filed with the Commission an application dated 11 June 1998 under Section 32 of the Petroleum Products Act requesting approval for an increase of 0.4 cent 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 April/May, 1998.
This application and others were reviewed this date by the Commission with respect to the supporting documentation filed and the Commission’s monitoring of the average cost of Brent marker crude for the April/May’98 period.
Following this consideration, the Commission accepted the calculations supplied by the Applicant, and determined that it would be just and reasonable to authorize increases to Irving’s dealer and posted consumer prices in the amount of 0.4 cent per litre based on the crude oil cost component of pricing, effective 12:01 a.m., 1 July 1998, 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 Irving Oil Limited, effective 12:01 a.m. on Wednesday, 1 July 1998:
PRODUCT
CENTS PER LITRE
(INCLUDING Federal Excise
and Provincial Taxes)Regular Unleaded Gasoline 43.8
Mid-Grade Unleaded Gasoline 45.8 Premium Unleaded Gasoline 47.7 Low Sulphur Diesel 44.2 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 Irving Oil Limited, effective 12:01 a.m. on Wednesday, 1 July 1998.
PRODUCT
CENTS PER LITRE
(INCLUDING Federal
Excise Tax)Regular Unleaded Gasoline 42.7
Mid-Grade Unleaded Gasoline 43.2 Premium Unleaded Gasoline 43.8 Diesel 34.1 Low Sulphur Diesel 35.1 Stove Oil 31.8 Furnace Oil 29.6 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 25th day of JUNE, A.D., 1998.
BY THE COMMISSION:
Chair
Vice-Chair
Commissioner