Island, February 28, 2006 —
The Island Regulatory
and Appeals Commission announced today that there will be no change in
retail pricing for gasoline. Wholesalers have been authorized to
increase gasoline prices in their dealer and consumer schedules by 1.0
cent per litre (cpl), effective 12:01 a.m. Wednesday, March 1, 2006;
however, this is offset by the reduction in the provincial tax
calculation resulting from February’s mid month price adjustments.
Accordingly, pump prices for regular unleaded gasoline at self-serve
outlets will continue to range from 92.3 cpl to 93.9 cpl. Diesel prices
also decrease slightly due to the tax calculation.
The maximum prices
for home heating fuel and stove oil remain unchanged.
Irving Oil Limited and
Superior Propane Inc. received approval to decrease propane prices by
6.1 cpl and 6.5 cpl, respectively, reflecting decreases in product
The Commission noted
that while there has been significant fluctuation in crude prices over
the past two weeks, surplus North American crude and distillate
inventories have served to moderate the effect of a number of
geopolitical issues. Gasoline market prices, however, continue to edge
upward because of lower inventory levels and the introduction of more
stringent environmental specifications.
The Commission’s next
scheduled price adjustment will be on March 15th.
Click here for published prices effective
March 1, 2006