Charlottetown, Prince Edward Island,
January 15, 2014
The Island Regulatory and Appeals Commission approved
the following petroleum pricing decisions, effective 12:01 a.m.,
Wednesday, January 15, 2014:
Gasoline prices will decrease by 2.2 cents per litre (cpl);
Furnace and stove oil prices will decrease by 2.0 cpl;
Diesel prices will decrease by 2.3 cpl; and
Propane prices will increase by 8.0 cpl for Superior Propane, Irving
Energy Distribution and Marketing and Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular
unleaded gasoline at self-serve outlets will now range from 131.0 cpl to
The maximum price for furnace oil will now amount to
113.3 cpl plus tax.
Reductions in the wholesale rack pricing of gasoline,
diesel and furnace oil resulting from reduced demand and increased
inventories noted over the period of the past two weeks enable the price
reductions announced today.
A number of factors, however, have combined to
collectively exert a significant upward pressure on propane prices. The
recent storm related temporary closure of the Come-By-Chance refinery in
Newfoundland, production issues associated with the Sable Island gas
platforms, Eastern Canadian rail shipment issues coupled with a
significantly increased industry wide demand for propane have
dramatically impacted propane wholesale rack pricing in recent weeks.
The Commission's next scheduled price adjustment will be
on February 1, 2014.
Click here for
published prices effective January 15, 2014