Propane prices skyrocket as much as 15 cents per litre

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Propane prices have taken another jump 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.

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

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

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Recent comments

  • Andrew Lush
    February 02, 2014 - 15:23

    Well so much for the North American fracking bonanza! It is a giant Ponzi scheme, designed to keep us all hooked on fossil fuels.

  • Unreal
    February 02, 2014 - 11:27

    Thank our Goverment for this! They are taxing us too death and only making home heating oil exempt is simply unfair to those who use propane or other fuels to heat!! Ghiz goverment strikes again!!

  • Perfect
    February 01, 2014 - 21:24

    This is awesome news. I've been waiting for the arrival of natural gas all along and this should help bring it on. Goodbye propane companies.

    • anonymoose
      February 02, 2014 - 19:47

      I think you may want to check what natural gas prices are like in NB right now...

  • Peter M
    February 01, 2014 - 17:18

    Can IRAC explain why exactly Prince Edward Island has the highest prices in Canada? That is the answer we all want to know. Maybe perhaps getting rid of IRAC there could be pricing wars among gas stations. IRAC doesn't serve anybody but the government here.