Petroleum pricing, December 9, 2016

The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Friday, December 9, 2016:

• Gasoline and diesel prices will both increase by 5.0 cents per litre (cpl); and

• There will be no change in furnace oil, stove oil or propane prices at this time.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 108.7 cpl to 109.8 cpl.

The maximum price for furnace oil will continue to amount to 78.9 cpl, plus tax.

Significant increases in the wholesale prices of both gasoline and diesel since the Commission’s last adjustment now necessitate the price increases announced today.

Prince Edward Island is not alone in facing such increases in fuel prices. Indeed, prices this past week have risen dramatically all across the country with national average gasoline pricing now approaching 108.0 cpl, up approximately 5.0 cpl from the first of December. Regionally, pump prices in New Brunswick, having increased yesterday by 4.7 cpl, can now be found in excess of 111.0 cpl.
 
The Commission's next scheduled price adjustment will be on December 15, 2016.

Media contact:
Allison MacEwen
amacewen@irac.pe.ca
Director
Regulatory Services
IRAC