Petroleum pricing January 15, 2017

 The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Sunday, January 15, 2017:

• Gasoline prices will decrease by 3.5 cents per litre (cpl);

• Furnace and stove oil prices will decrease by 1.5 cpl;

• Diesel prices will decrease by 2.0 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 111.0 cpl to 112.1 cpl.
The maximum price for furnace oil will now amount to 80.4 cpl, plus tax.

Marked reductions in the wholesale price of all three petroleum products over the past two weeks related to overall reduced demand and growing inventory levels allow for the reduction in prices announced today.

The Commissions next scheduled adjustment will be on February 1, 2017.

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