Charlottetown, Prince Edward Island, July 14, 2008
Island Regulatory and Appeals Commission announced today
the following petroleum pricing decisions, effective
Gasoline prices will
increase by 4.0 cents per litre (cpl);
Furnace oil and stove oil
prices will increase by 6.0 cpl;
Diesel prices will increase
by 7.0 cpl; and
There will be no changes in
propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve
outlets will now range from 139.1 cpl to 141.2 cpl.
crude oil prices, and their impact on refined product prices over the
past two weeks, now necessitate increases in local petroleum product
prices. This build in global crude pricing is attributable to a number
of factors including:
The fluctuating value of the
Supply concerns relating to
a strike of Brazilian oil workers and continued political unrest in
The onset of this year's
Heightened Middle East
geo-political tension related to the recent missile testing on the
part of Iran; and
Significant reduction in
crude inventories as reported by the U.S. Department of Energy.
Commission's next scheduled price adjustment will be on August 1, 2008.
Click here for published prices effective
July 15, 2008.