March 1, 2019 | by: Chris Pride

Islanders now paying 107.9 – 109 @ gas pumps

Price Adjustments

The Island Regulatory and Appeals Commission approved the following increases in petroleum prices in an unscheduled price adjustment, effective 12:01 a.m., Friday, March 1, 2019:

  • Gasoline prices will increase by 3.4 cents per litre (cpl);
  • Furnace and stove oil prices will decrease by 1.5 cpl;
  • There will be no change in the price of diesel; and
  • Propane prices will increase by 0.2 cpl for Irving Energy Distribution and Marketing, by 0.6 cpl for Superior Propane and by 1.8 cpl for Kenmac Energy Inc.

 

New Prices

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 107.9 cpl to 109.0 cpl. Pump prices for self-serve diesel will continue to range from 127.4 cpl to 128.6 cpl. Maximum before tax propane prices will now range from 80.0 cpl to 81.3 cpl. And the maximum price for furnace oil is now 98.8 including HST of 5%.

The price of gasoline continues to rise on the New York Mercantile Exchange as a result of reduced refining capacity and low inventory levels. Prices are also increasing across the country.

 

Breakdwon

 

Market Comparisons

PEI – 107.9 – 109.0

National Average – 112.6 *

Moncton – 110.4 *

Hallifax – 110.3 *

Montreal – 117.7 *

Ottawa – 99.2 **

Calgary – 103.5 **

Vancouver – 130.4 **

* prices based on IRACĀ  press release

** prices based average pump prices as listed on GasBuddy.com