Charlottetown, Prince Edward Island, March 14, 2008
Island Regulatory and Appeals Commission announced today
the following petroleum pricing decisions, effective March 15,
Furnace oil, stove oil and
diesel prices will increase by 9.8 cents per litre (cpl);
There will be no change in
gasoline or propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve
outlets will continue to range from 110.6 cpl to 112.1 cpl. Diesel
self-serve prices will range from 130.1 to 131.7 cpl.
Commission notes that both crude and refined products continue to trade
at record prices. Spot market prices for furnace oil, diesel fuel and
the per barrel price of crude oil have all increased in excess of 25%
over the past two months. The slide in the value of the U.S.
dollar this past year continues to impact global commodity markets and
has dramatically affected crude oil futures prices. Now trading at $110
per barrel, crude a year ago traded at $58 per barrel.
Commission's next scheduled price adjustment will be on April 1, 2008.
Click here for published prices effective March 15, 2008.