Petroleum pricing October 15, 2016

The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Saturday, October 15, 2016:

Gasoline prices will increase by 2.5 cents per litre (cpl);

Furnace and stove oil prices will increase by 8.0 cpl;

Diesel prices will increase by 8.0 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 107.0 cpl to 108.1 cpl.

The maximum price for furnace oil will now amount to 83.3 cpl, plus tax.

Gasoline pricing continues to be impacted by the lingering effects of supply interruptions related to recent pipeline and weather related distribution issues. Furnace oil and diesel wholesale pricing has increased significantly, as of late, as a result of the seasonal implementation of winter blending processes for both products.

Prince Edward Island is not alone in facing these pricing challenges as price increases for these products in both New Brunswick and Nova Scotia over the past two weeks has been in excess of 10.0 cpl.  

The Commission's next scheduled adjustment will be on November 1, 2016.

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