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Islanders pay two cents more for gas than national average,
says IRAC
By Russell Lee Webb
Islander’s will be paying a little more at the pumps this
month as gas prices rise 3.6 cents to 76.8 cents per litre (cpl)
for regular, self-serve gas.
The new prices, released Nov.1 by the Island Regulatory and Appeals
Commission (IRAC), places P.E.I. two cents above the national average
of 74.8.
P.E.I. has a regulated gas system which means it has a fixed price
for a month and price increases are the same across the Island.
“The price charged by a wholesaler or wholesaler-retailer for
each grade of heating fuel and motor fuel shall be a common and
universal price to all retailers throughout the province,”
says the IRAC petroleum products act.
Because of this, Island servive stations usually see an increase
in business at the end of each month.
Cecil Frizzell of Frizzell’s Esso said he usually sees a 25
per cent increase on the last day of each month as people anticipate
a hike in prices.
Yellowknife had the highest prices at 91.9 cpl and Winnipeg had
the lowest prices with regular gas costing only 48.5 cpl.
Mid-grade and premium gas rose 4.4 and 3.7 cents respectively, to
their new prices of 79.5 and 82.1 cpl. Full-service will cost you
an additional 1.1 cpl.
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