Charlottetown, Prince Edward Island,
February 15, 2015
The Island Regulatory and Appeals Commission approved the following
petroleum pricing decisions, effective 12:01 a.m., Sunday, February
Gasoline prices will increase by 3.0 cents per litre (cpl);
Furnace and stove oil prices will increase by 3.5 cpl;
Diesel prices will increase by 3.8 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 103.3 cpl to 104.4
The maximum price for furnace oil will now amount to 92.0 cpl plus tax.
Substantial increases in the wholesale price of all three petroleum
products observed over the past week now necessitate this price
Significant speculative trading activity in the commodity markets that
set the base price of crude oil, gasoline and furnace oil continues to
be observed. 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 continued
to increase over the past week. For comparative purposes, regular
self-serve gasoline in Halifax is currently 102.1 cpl vs Charlottetown
at 103.3 cpl, while maximum furnace oil prices (taxes included) in New
Brunswick amount to 109.6 vs 96.6 cpl in Prince Edward Island.
The Commission's next scheduled price adjustment will be on March 1,
Click here for
published prices effective February 15, 2015