Home heating oil prices cut as IRAC issues mid-March price adjustment

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Home heating oil, diesel and gas prices are all going down as the Island Regulatory and Appeals Commission adjusts prices for mid-March.

Homeowners are getting the biggest break as the Island Regulatory and Appeals Commission gets set to release its mid-month price adjustments.

Home heating oil prices, including furnace and stove oil, will drop by 7.0 cents per litre, The Guardian has learned. That will push prices down from 121.3 to 114.3 cents per litre.

Diesel prices will fall 6.0 cents per litre.

The price at the pumps will also fall, but not as dramatically.

Gas prices will drop 1.5 cents per litre. That will push pump prices down to 136.8 to 137.9 cents per litre.

Islanders continue to pay a nickel or more per litre than the national average according to Gasbuddy.com, a website that tracks gas prices in North America.

Gasbuddy.com says the average price at the pumps across Canada is now 131.9 cents per litre and holding steady.

The commission will make the new prices official Saturday. The next scheduled price adjustment is on April 1.

 

 

Organizations: Island Regulatory and Appeals Commission, The Guardian

Geographic location: North America, Canada

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Recent comments

  • The Ghiz tactics
    March 15, 2014 - 15:58

    The whole tax fuel thingy is all political, what skeme are they going to pull when the hot weather is on,will the excuse be to many air conditioners whining and IRAC cannot hear the political excuse why prices are on the rise...what a joke.

  • george
    March 15, 2014 - 14:12

    the winter is over you dummys who do you think you fooling

  • mark
    March 15, 2014 - 10:20

    Was pretty obvious the price was going to drop when Irving topped off my oil tank for no reason a couple of days ago. Do yourselves a favour and do NOT sign up for automatic filling. If the public isn't allowed to know about the price changes ahead of time then niether should the oil companies. IRAC members are nothing but a bunch of crooks

    • huh
      March 15, 2014 - 12:27

      but...its the oil companies who request the hike, right? So how do you go about keeping them in the dark?

  • ralph
    March 15, 2014 - 08:50

    It is amazing that Islanders still labour under the impression that IRAC sets these prices, - they are set by the oil & gas dealers association, IRAC merely rubberstamps and announces the prices. With semi monthly announcements, there is the added room to gauge in between. On top of being gauged that way, our taxes go to pay the high flying, patronage ridden administration their $ 100.000,- salaries. That is why you will never see IRAC eradicated, - too good a way to reward party faithful, -- with the NDP you may have a chance, but never with the 2 old parties. Congratulations PEI on the drop in prices,

    • Ajam
      March 15, 2014 - 12:59

      Yup, and we're grabbing our ankles and taking it. People are wimps these days.

  • Fed up
    March 15, 2014 - 08:03

    Gas 1.5 cents?!? What a HUGE treat?!?! However, great to have a break on home heating! As stated, trucks all over filling tanks this past week...ours included. By next fill, prob back up....but hope not! I still maintain the gas prices could be WAY lower...but Ghiz has provincial employees driving miles and miles to/from work...sitting back drawing his big taxes! Has anyone noticed...school supplies before were tax free? Now 14% with the great HST Ghiz promised NOT to implement in last Election promises...

  • kim
    March 14, 2014 - 23:30

    Ok so that explains why there were so many oil trucks scrambling around Stratford filling up tanks before the price drop!

  • relieved
    March 14, 2014 - 22:43

    Better than going up. Give them a little praise. It may help in the long run!!!!!

    • Henry Sow
      March 15, 2014 - 08:52

      Give them nothing! Wow, the prices go down mid March as winter nears the end. IRAC should be ashamed for how they treat their own!

    • huh
      March 15, 2014 - 10:48

      IRAC deserves neither praise when prices go down nor scorn when they go up. IRAC does not sell gas. The OIL INDUSTRY does and they dictate the prices. Do people really think that the likes of Moe Rodgerson sit around a conference table and say, "Oh let's give Islanders a break this month."?

  • Well now
    March 14, 2014 - 19:47

    "Home heating oil prices, including furnace and stove oil, will drop by 7.0 cents per litre, The Guardian has learned. That will push prices down from 121.3 to 114.3 cents per litre." Well now let me put this politely ....... MANY PEOPLE COULD HAVE USED THIS OR ANY KIND OF BREAK $ WISE WHEN THEIR ARSES WERE FREEZING OFF THIS WINTER & THEY HAD TO CHOOSE BETWEEN FOOD OR HEAT.

    • Exactly
      March 15, 2014 - 06:12

      I agree with Well now. It's great that the prices have dropped. But this is just a tactic. The demand for oil now is not as high as it was a couple months ago. We can pretty much predict which way the oil prices go now. That being said hopefully everybody can fuel up now and save a little for the fall months.

    • don
      March 15, 2014 - 06:20

      yes but then wes would have lost all the tax money. and we all know that would break his heart that he lost "his tax money."