• Gasoline prices will increase by 5.5 cents per litre (cpl);
• Furnace oil and stove oil prices will increase by 3.5 cpl; 
• Diesel prices will increase by 5.1 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 116.3 cpl to 117.9 cpl.

Despite reduced North American fuel demand, the low value of the U.S. dollar is fostering commodity market investments and continues to put upward pressure on product prices.

• With the exception of one day, crude oil has traded consistently above $100 per barrel since February 28^th. A record high trading value of $112 was observed this past week and average prices for March traded at $42 per barrel more than last year.
• Demand has dropped in North America.  Consumption in China, Southeast Asia and Europe continues to grow, however, thus exerting upward pressure on global oil prices.
• The declining value of the U.S. dollar, as well, has been a contributing factor with the fall in the dollar encouraging speculative activity in commodities markets such as oil, wheat and gold.
• P.E.I. prices for diesel and heating fuel are at record levels.

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Click here for published prices effective April 15, 2008.