Charlottetown, Prince Edward Island, May 31, 2007
— The Island Regulatory and Appeals Commission announced today the
following petroleum pricing decisions, effective June 1, 2007:
prices will decrease by 1.5 cents per litre (cpl);
fuel and stove oil prices will decrease by 2.0 cpl;
prices will decrease by 1.5 cpl;
prices will remain unchanged.
Including taxes, pump prices for regular unleaded gasoline at self-serve
outlets will now range from 112.6 cpl to 114.2 cpl.
In announcing the price adjustments, the Commission noted that, over the
past week, the combination of
adequacy of domestic North American supply of refined products;
apparent moderation of political tensions in oil rich Nigeria; and
restarting of a number of key refinery operations in the U.S.
have impacted NYMEX petroleum commodity market prices lowering both
crude and refined product pricing. With domestic consumer demand
remaining strong, however, and refineries operating at maximum capacity,
market direction over the coming weeks remains difficult to predict.
Click here for published prices effective June 1, 2007