Petroleum prices drop

Send to a friend

Send this article to a friend.

Propane prices had most significant decrease, dropping at least 13 cents per litre

Reduced wholesale rack prices means it's less expensive to fill up on all petroleum products today, with the most significant decrease announced for propane.

Gas and oil prices are slightly less expensive today as the Island Regulatory and Appeals Commission's regular bi-monthly adjustment took effect just after midnight.

Gasoline prices decreased by 1.5 cents per litre, while furnace and stove oil prices went down one cent. Diesel prices are also down a cent.

The most significant difference in prices is for propane. Prices decreased by 13.4 cpl for Superior Propane, by 19.8 cpl for Irving Energy Distribution and Marketing and by 13.2 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 135.1 to 136.2 cpl. Maximum before tax propane prices will now range from 95.7 to 96.2 cpl.  

The maximum price for furnace oil will now amount to 113.3 cpl plus tax.

Reduced wholesale rack prices for all petroleum products allow for the price adjustments announced today.  

The commission's next scheduled price adjustment will be on April 15. 

Organizations: Island Regulatory and Appeals Commission, Superior Propane, Kenmac Energy

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments

Recent comments

  • The Observer from Stratford
    April 01, 2014 - 17:13

    IRAC's purpose when it comes to petroleum price regulation is to give the impression that your government is doing something when in fact it is doing nothing.

  • Bill
    April 01, 2014 - 14:29

    I drove from Calgary to PEI. The highest price I paid for gas all across the country was right here on good ole PEI. Way to go, IRAC, (or should that be Iraq?) You're sure takin' good care of us PEI folks.

  • The Observer from Stratford
    April 01, 2014 - 12:02

    @Cromwell: The article told you IRAC's explanation, "Reduced wholesale rack prices for all petroleum products allow for the price adjustments announced today. " The same claim and "supporting" details are posted at the IRAC website. Whether or not you believe their rationale is of course another matter.

  • cromwell
    April 01, 2014 - 08:24

    Still awaiting the promised detailed feedback from IRAC as to how they derived these significant price reductions. I live in hope! At least the recent inclement weather has delayeded my furnace oil delivery, so I will benefit from this munificent price reduction :-)

  • sammy
    April 01, 2014 - 07:17

    So they put propane up 40 cents a liter since Sep and added HST back in April... then dropped it 13 cents a liter... big deal... well it is for the Prov Govt

  • Robin Roach
    April 01, 2014 - 07:17

    Holy 1 whole cent on diesel fuel thank you so so so much ...lets see if I fill my car completely I am saving a whole .75 cents... wow omg ...what should I do with the all that money that you have just saved me ..you are just so wonderful...really ....I think we all should....as true islanders.... bow down to you at IRAC.... then we should all bend over ....because the only thing we ever get from you is the shaft....

    • huh
      April 01, 2014 - 08:43

      Funny then that folks get so outraged when prices go up and filling your tank costs a whole 75 cents more.

    • Steve
      April 01, 2014 - 17:06

      hahhahahahahaha, good one!

  • David McCabe
    David McCabe
    April 01, 2014 - 06:36

    wow a whole penny, i thought we did away with the penny, keep it Moe oh it's not Moe anymore! hey there goes the plow yea hey make that thing below easier to read geeze