The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, April 15, 2015:
• Furnace and stove oil prices will decrease by 3.0 cents per litre (cpl);
• Diesel prices will decrease by 4.5 cpl; and
• There will be no change in gasoline or propane prices at this time.
Pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 105.1 cpl to 106.2 cpl.
The maximum price for furnace oil will now amount to 83.7 cpl plus tax.
Continued reductions in the wholesale price of distillates allow for the price reductions for furnace oil and diesel announced today. The Commission is currently monitoring an escalation in wholesale gasoline prices observed in recent days. At this point no adjustment in authorized gasoline prices is deemed necessary. Gasoline prices on Prince Edward Island continue to compare favourably with those found throughout Atlantic Canada with pump prices for self-serve regular gasoline in Charlottetown at 105.1 cpl vs 108.8 in Halifax, NS, 107.9 in Moncton, NB and 116.2 in Corner Brook, NL.
The Commission's next scheduled price adjustment will be on May 1, 2015.