Charlottetown, Prince Edward Island, February 21, 2008
Island Regulatory and Appeals Commission announced today
the following petroleum pricing decisions, effective February 22,
diesel prices will increase by 7.0 cents per litre (cpl);
Furnace fuel and
stove oil prices will increase by 6.0 cpl; and
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 111.6 cpl to 113.2
In announcing the price adjustments, the Commission noted
that the per barrel price of crude has increased almost $12.00 since the
Commission's last adjustment on February 1st. This combined
with other factors has dramatically increased the price for refined
product supply to the PEI market. These other factors include the
falling value of the U.S. dollar, renewed geo-political tension in
Venezuela and Nigeria and market concern over potential OPEC production
The Commission's next scheduled price adjustment will be
on March 1, 2008.
Click here for published prices effective February 22, 2008.