Top News

P.E.I. propane prices decrease July 1

Islanders who use propane will see a price drop effective today.
Islanders who use propane will see a price drop effective today. - 123RF Stock Photo

After surprising Islanders over the Canada Day weekend with an unscheduled price increase to gas, diesel and home heating oil, the Island Regulatory and Appeals Commission has given residents a bit of a break on propane today.

As of 12:01 a.m. Monday, July 1, propane prices decreased by 1.5 cents per litre for Irving Energy Distribution; 1.1 cpl for Superior Propane; by 0.4 cpl for Island Petroleum. However, the price crept up by half a cent per litre for Kenmac Energy Inc. propane.

The maximum, before-tax propane prices now range from 69.1 to 70.6 cpl.

On Saturday, the commission announced a surprise seven-cent increase on gas; a five-cent increase on diesel; and a four-cent increase on home heating oil. It cited a significant rise in petroleum prices on the New York Mercantile Exchange, high demand and limited supplies caused by a refinery closure in the U.S. for those increases.

The commission’s next scheduled price adjustment will be July 15.

Recent Stories