No change in gas prices

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Furnace and stove oil increased two cents per litre

No change in gas prices, but furnace and stove oil increased two cents per litre in the Feb. 1 price adjustment for petroleum products in P.E.I.

Islanders relying on oil to heat their homes are about to shell out a little more for furnace and stove oil.

Overnight, the Island Regulatory and Appeals Commission approved a two cent per litre increase for furnace and stove oil. The maximum price for furnace oil is now 69.6 cents per litre plus tax.

Diesel prices also increased by 1.5 cents per litre.

There was no change in the price of gasoline and prices at self-serve outlets will continue to range from 90.2 to 91.3 cents per litre.

The new prices came into effect at 12:01 a.m. Monday.

Propane prices went in the opposite direction, decreasing by 2.2 cents per litre for Superior Propane and by 1.0 cent per litre for Irving. There was no change in price at Kenmac Energy.

Maximum before tax propane prices will now range from 65.5 to 67.7 cent per litre.

"While the wholesale price of gasoline remains relatively stable, the wholesale price of both furnace oil and diesel, due to seasonal demand, has increased, necessitating the price adjustments," the commission said in a newsrelease.

The next scheduled price adjustment will be on Feb. 15.

Organizations: Island Regulatory and Appeals Commission, Superior Propane

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Recent comments

  • Mike Mouse
    February 01, 2016 - 17:55

    The public must realize the reason feul prices are still unreasonsble. It is a hidden tax because the government was depending on the income from the high price of which is now gone but the public is still being taxed. Also what about the Feul Surcharge ? Air lines, Cruise lines and Maritime Electric we are watching you.