Propane prices skyrocket by as much as 15 cents per litre

Published on February 1, 2014

Propane prices have dropped across P.E.I.

Skyrocketing propane prices increased again over the weekend.

Effective Feb. 1, propane prices increased by 9.3 cents per litre at Superior Propane, by 9.8 cents per litre at Irving Energy Distribution and Marketing and by 15.0 cents per litre at Kenmac Energy Inc.

The maximum price for bulk propane delivery is now 111.2 at Superior, 110.2 cents per litre at Irving, and 116.4 cents per litre at Kenmac.

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The Island Regulatory and Appeals Commission blames “significantly increased wholesale prices for all petroleum products” for the price increases.

“Reduced refined product inventories, seasonally increased demand and unscheduled technical and weather related refinery and distribution system interruptions have contributed to the current situation,” the commission said in a statement issued Saturday.

As first reported by The Guardian on Friday, gas prices increased by 4 cents per litre effective 12:01 a.m. on Saturday, Feb. 1, 2014. That pushed pump prices to 135.5 to 136.7 cents per litre.

Diesel prices went up by 6 cents per litre.

Home heating oil, including furnace and stove oil, increased by 6.0 cents per litre.