Petroleum pricing - October 28, 2017
The Island Regulatory and Appeals Commission approved the following unscheduled petroleum pricing decision, effective 12:01 a.m., Saturday, October 28, 2017:
- gasoline prices will increase by 4.0 cents per litre (cpl); and
- there will be no change in the price of Furnace Oil, Stove Oil, Diesel or Propane at this time.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 111.4 cpl to 112.6 cpl. Pump prices for diesel will continue to range from 116.5 cpl to 117.6 cpl.
The maximum price for furnace oil will continue at 80.6 cpl, plus tax.
Significant increases in the wholesale price of gasoline since the Commission’s last adjustment now necessitate the unscheduled price increase announced today.
Hurricane Harvey related production interruptions continue to impact the wholesale pricing of petroleum products. Prince Edward Island is not alone in facing such price increases. As of October 27, 2017, escalated gasoline prices were observed all across the country with Ottawa at 118.2 cpl, Toronto at 118.0 cpl, Montreal at 123.9cpl, Halifax at 111.4 cpl and the national average at 118.9 cpl.
The commission’s next scheduled price adjustment will be on November 1, 2017.