Charlottetown, Prince Edward Island, February 29, 2008
Island Regulatory and Appeals Commission announced today
the following petroleum pricing decisions, effective March 1,
Gasoline prices will
decrease by 1.0 cents per litre (cpl);
Diesel prices will increase
by 1.0 cpl; and
There will be no
change in furnace, stove oil or propane prices at this time.
Including taxes, pump prices for regular unleaded
gasoline at self-serve outlets will now range from 110.6 cpl to 112.1
Global crude prices continue to trade at record levels,
primarily the result of speculative activity as opposed to fundamental
supply and demand factors. Crude prices sustained at this level
will result in continued high refined product pricing. A build in
inventory and decline in demand for gasoline enables a slight reduction
for this product while a reduction in supply necessitates an increase in
diesel prices at this time.
The Commission's next scheduled price adjustment will be
on March 15, 2008.
Click here for published prices effective March 1, 2008.