Petroleum_Pricing_in_Prince_Edward_Island

Petroleum Pricing in Prince Edward Island

Petroleum Pricing in Prince Edward Island is regulated by the Island Regulatory and Appeals Commission of Prince Edward Island.

Price Make up

Marketers buy on the basis of the rack price and the retail arms of the major oil companies. Mainly Esso in Dartmouth Nova Scotia or Irving Oil in Saint John New Brunswick. The commission sets a wholesale price or Approved Dealer Base Price based on prices on the NYEX. Then to determine a tank truck price which includes Federal Excise tax which is 10 cents per Litre for Gasoline and 6 cents per liter for Diesel. The retail price is 5 to 7.5 cents a liter for Full Serve and 4 to 5.5 cents for self- serve plus 7% Goods and services tax.

Prices are reviewed every 15 days or when the price raises or falls on the market to interrupt the cycle through an interrupting fornula.

Notice

The people in Prince Edward Island are notified of any changes in the price via the Island Regulatory and Appeals Commission website or through the media usually at 4pm AST the day before

See also

External links

  • http://www.irac.pe.ca/petrol/ Island Regulatory and Appeals Commission]
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