Charlottetown, Prince Edward Island,
February 7, 2015
The Island Regulatory and Appeals Commission approved
the following petroleum pricing decisions, effective 12:01 a.m.,
Saturday, February 7, 2015:
Gasoline prices will increase by 5.3 cents per litre (cpl);
Furnace and stove oil prices will increase by 5.5 cpl;
Diesel prices will increase by 4.5 cpl; and
There will be no change in propane prices at this time.
Including adjustments for taxes, pump prices for regular
unleaded gasoline at self-serve outlets will now range from 99.9 cpl to
The maximum price for furnace oil will now amount to 88.5
cpl plus tax.
Substantial increases in the wholesale price of all three
petroleum products observed over the past week now necessitate this
unscheduled price adjustment.
There is significant speculative trading activity in the
commodity markets that set the base price of crude oil, gasoline and
furnace oil. This upward pressure on wholesale prices is expected to
continue for the foreseeable future.
Prince Edward Island is not alone in facing rising
petroleum product prices. The regulated prices of gasoline, furnace oil
and diesel in all four Atlantic Canadian provinces and indeed across the
country have risen dramatically over the past week. For comparative
purposes, regular self-serve gasoline in Halifax is currently 99.8 cpl
vs Charlottetown at 99.9 cpl, while maximum furnace oil prices (taxes
included) in New Brunswick amount to 105.8 vs 92.9 cpl in Prince Edward
The Commission's next scheduled price adjustment will be
on February 15, 2015.
Click here for
published prices effective February 7, 2015