Charlottetown, Prince Edward Island, May 31, 2008
Island Regulatory and Appeals Commission announced today
the following petroleum pricing decisions, effective
Gasoline prices will
increase by 2.0 cents per litre (cpl);
Furnace oil and stove oil
prices will increase by 1.5 cpl;
Diesel prices will increase
by 1.5 cpl; and
Propane prices will increase
by 2.3 cpl for Superior Propane and by 5.0 cpl for Irving Oil
Including taxes and a previously scheduled increase in dealer margin,
pump prices for regular unleaded gasoline at self-serve outlets will now
range from 131.8 cpl to 133.9 cpl.
crude futures markets continue to be best described as volatile.
Seasonal demand, geo-political risks, the fluctuating value of the U.S.
dollar and speculative activities all continued to influence the trading
value of crude over the past two weeks. Renewed violence in Nigeria and
increased Chinese demand for diesel resulting from the aftermath of that
country's earthquake disasters served to provide a sustained upward
pressure on refined products in particular. While demand for petroleum
products in the U.S. and Canada is being affected by high prices,
overall global demand from China, Southeast Asia and the Middle East
continues to grow.
next scheduled price adjustment will be on June 15, 2008.
Click here for published prices effective
June 1, 2008.