Charlottetown, Prince Edward Island, January 31, 2008
Island Regulatory and Appeals Commission announced today the
following petroleum pricing decisions, effective February 1, 2008:
will decrease by 2.3 cents per litre (cpl.);
will decrease by 2.0 cpl;
Furnace fuel and
stove oil prices will decrease by 2.0 cpl; and
will increase by 0.4 cpl for Superior Propane and by 2.5 cpl for
Irving Oil Marketing Limited.
Including taxes, pump prices for regular unleaded
gasoline at self-serve outlets will now range from 104.3 cpl to 105.8
In announcing these latest price adjustments, the
Commission noted that the depressed state of the U.S. economy has
significantly impacted estimates of global consumption thereby
depressing both crude and refined spot market pricing. This overall
reduction in market price, however, comes as welcome news particularly
as it relates to home heating oil which traditionally rises to its
highest price point during the high consumption winter months.
The Commission's next scheduled price adjustment will be
on February 15, 2008.
Click here for published prices effective February 1, 2008