Charlottetown, Prince Edward Island, November 8, 2007
Island Regulatory and Appeals Commission announced today the
following petroleum pricing decisions, effective November 9, 2007:
will increase by 4.0 cents per litre (cpl);
will increase by 4.0 cpl; and
Furnace fuel and
stove oil prices will increase by 4.0 cpl;
There will be no
change in propane prices at this time.
Including taxes, pump prices for regular unleaded
gasoline at self-serve outlets will now range from 104.2 cpl to 105.8
In announcing the non-scheduled price adjustment, the
Commission noted that record high crude oil costs, approaching $100.00 per
barrel, are quickly being reflected in the prices of refined products.
Last year at this time crude oil was selling for $59.41
Average crude prices have increased every month this year and November
prices are almost 75 percent higher than January. Record prices have
not curbed world demand and continued strong demand for refined
products, especially in the US and China, continues to put upward
pressure on both crude and refined product prices.
The Commission's next scheduled price adjustment will be
on November 15, 2007.
Click here for published prices effective November 9, 2007