Fuel prices drop, beer prices rise

Beer drinkers winced while motorists honked on Monday when new consumer prices were announced.
While fuel prices dropped for gas, furnace and stove oil and diesel, they increased by 50 cents per dozen for domestic beer and 20 cents across the board on the single-serve can category.
The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, which took effect at 12:01 a.m., Monday:
u Gasoline prices will decrease by 2.4 cents per litre (cpl);
u Furnace and stove oil prices will decrease by 3.8 cpl;
u Diesel prices will decrease by 4.1 cpl;
u Propane prices will increase by 6.1 cpl for Superior Propane, by 6.0 cpl for Irving Energy Distribution and Marketing and by 6.0 cpl for Kenmac Energy Inc.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 97.8 cpl to 99.9 cpl.
A news release from IRAC says that significant reductions in the wholesale market price of gasoline, furnace oil and diesel products since the commission's last adjustment has allowed for the petroleum product price decreases.
The release says that escalation of wholesale propane costs over the past 30 days are also reflected in the announced prices.
The commission's next scheduled price adjustment will be on Feb. 15.
The P.E.I. Liquor Control Commission (PEILCC) says Monday's price hike brings the Prince Edward Island market in line with retailers in the neighbouring provinces of New Brunswick and Nova Scotia.
Twelve-pack cans (12) from the domestic brewers will increase from $20.99 to $21.49, which the PEICC says is on par with New Brunswick and 50 cents lower than the same product sold in Nova Scotia.
Increased costs incurred by suppliers in the areas of raw material, transportation, packaging and glass have necessitated the price increase, a PEILCC news release states.
It says the closure of Owens Illinois glass plant in Scoudouc, N.B., forced a number of suppliers to source glass from far outside the region, which has increased transportation costs.
With the adjustment, the PEILCC says domestic beer products in P.E.I. are on par with neighbouring N.S. and N.B. For example, the regular priced Coors Light 12-pack bottles goes from $20.49 to $20.99, as does Molson Canadian 12-pack bottles; Moosehead Light 12-pack bottles and Alpine 12-pack bottles go up 50 cents from $20.49 to $20.99; Keiths 12-pack bottles will also increase 50 cents here on P.E.I. from $20.49 to $20.99 as will the Bud Light 12-pack bottles.
The domestic 12-pack cans will increase correspondingly which will be on par with N.B. and 50 cents less than N.S.
The single-serve can category, the majority of which are imported products from outside North America, all increase by 20 cents. Many of the single-serve imports are on par or lower than mainland pricing.