Price of gasoline, diesel and furnace oil remains stable

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Gas prices

  The Island Regulatory and Appeals Commission has announced there will be no change in the prices of gasoline, furnace oil or diesel at this time.

Pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 135.5 cpl to 136.7 cpl. and the maximum price for furnace oil will continue to be 119.3 cpl plus tax. The announcement takes effect immediately.

However, propane prices will increase by 7.8 cpl for Irving Energy Distribution and Marketing and by 6.5 cpl for Kenmac Energy. There will be no change in price for Superior Propane. 

While relative stability has been observed over the past two weeks in the price of gasoline, furnace oil and diesel, supply challenges continue to impact wholesale pricing of propane.

The Commission's next scheduled price adjustment will be on March 1, 2014.

 

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

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Recent comments

  • CFA
    February 16, 2014 - 10:31

    We did that. Went electric with a heat pump and are getting nailed with HST. Something not quite right about that.

  • Stew
    February 15, 2014 - 21:25

    Not to be an alarmist, but we are heading into the post petroleum age. Get ready for it. Convert to an alternative heat source for your home, drive a fuel efficient car, and travel less. The prices of petroleum will never go down.

  • nova
    February 15, 2014 - 15:14

    It looks like IRAC looks after the big oil and propane companies while ignoring the effect these constant increases in oil, gas & propane have on the customers. It's time that they said no to some of these increases. For example propane has gone up at least 21 cents a litre in the last few months

    • patrick
      February 16, 2014 - 13:58

      Hate to say it,but be glad we dont use natural gas, if i remember right, it has gone up 100% since the fall and still rising.

  • keep positive
    February 15, 2014 - 13:52

    complete BS

  • cromwell
    February 15, 2014 - 12:27

    I thought that IRAC had been mandated to provide detail for any and all price adjustments (including if the price remained unchanged). The last I remember seeing was the one for the end of November, 2013. This lack of clarity from IRAC lends further credence to the theory that this august body is unduly 'influenced' in its decision making. For the record, who pays for those who make up the board of IRAC? I am sure that the board members toil on behalf of Islanders out of the goodness of their hearts. Given that PEI has a population of 140,000 (which would otherwise rank it as the 33rd largest city/town in Canada), do we actually need an entity such as IRAC? Why not merely follow the adjustments made by the larger members of the Maritime provinces (NB and NS)? This must surely result in cost savings for all Islanders.

    • sammy
      February 15, 2014 - 15:33

      The top positions are all political appointments and I know for a fact their contracts are 10-12 years at well over 100k

  • fred
    February 15, 2014 - 11:09

    The price of fuel is ridiculous!I took a gas can to a local gas station / i filled it to where it was marked one canadian gallon. It cost me $ 6.96. So we are also getting ripped off at the pumps .We are paying 2018 prices.Finance minister Jim (costello) is looking into why we pay so much more than the u.s.a. Someone should inform him that we pay around $ 0.43- to $0.45 cents TAX per litre . That is almost $ 2.00 a gallon more .I guess that;s why the senators fly first class when vacationing on the taxpayers dime . It only cost $15,000 to $ 20,000 a month .

  • THANKS FOR WHAT?
    February 15, 2014 - 11:02

    Are we supposed to say thank you for keeping gas prices the highest in North America. Oil prices are below 100 dollars a barrel and PEI is still paying at the 120 dollar level. Why are you creating false sales slips at the gas pumps? The sales slips used to list the three taxes that make up the 43 cents per litre taxes. Now all they say is TOTAL tax HST 14 PERCENT. Why and on whose orders, WES did they stop listing the 10 cent per litre Federal excise Tax and the 13.5 cents per litre Provincial Fuel Tax. The taxes are still there but the public is being deceived once again into thinking there is only one tax. Three separate taxes and the HST is also charged on the other two on top of the highest gas prices in North America. PEI PAYS 43 CENTS PER LITRE TAXES ON GAS. Let IRAC explain this one.

  • Marie Gallant
    February 15, 2014 - 10:36

    Way to go suppliers of Propane fuel. This will certainly send everyone to heat pumps. After all isn't this what happened when the insurance and supplies of fuel oil required customers to put in fiberglass oil tanks. How did that work for you? Customers went to alternative heat. The same thing happened a few years back with Pellet stoves and Woodstoves. That fuel went up too in the beginning. What is next an increase in electricity. All the new apartments and housing of all sorts have gone to heat pumps. A creative way to squeeze the last dollar from their customers. Where will it all end. At the end of the day the consumers may loose monies they could have spent on other commodities. And the large fuel companies will have less profit and the consumer will still have alternative heat. That is our prediction . Greed , greed , greed ! gets no one any place in this world at the end of it all.

  • Garth Staples
    February 15, 2014 - 09:47

    I think a more appropriate headline would be: "Fuel Prices Remain High"

  • And Why
    February 15, 2014 - 08:48

    And why would they change , we have the highest prices in Canada now . That should make Robert & Wes happy .