Charlottetown, Prince Edward Island, February 15, 2009
Island Regulatory and Appeals Commission approved the
following petroleum pricing decisions, effective 12:01 a.m.,
Sunday, February 15, 2009:
Gasoline prices will increase by 2.0 cents per
Furnace and stove oil prices will decrease by 3.5
Diesel prices will decrease by 3.5 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 84.4 cpl to 86.5 cpl.
While crude prices continue to
fall due to reduced global demand, increased North American demand for
gasoline coupled with reduced refinery output and diminished imports
have exerted upward pressure on gasoline spot market prices. This
has resulted in increased cost for gasoline product delivered to the
Mild weather and surplus
inventories have influenced market price dynamics for furnace oil and
diesel, both of which have decreased. Island prices have been
reduced to reflect lower market costs.
The Commission's next scheduled price adjustment will be
on March 1, 2009.
Click here for published prices effective
February 15, 2009