PEI Liberals Table Legislation to Align Fuel Pricing Benchmark with Rest of Atlantic Canada

Today in the Legislature, the Official Opposition Liberals introduced legislation that would bring Prince Edward Island in line with the rest of Atlantic Canada by adopting the New York Harbor benchmark for fuel pricing.

Currently, Prince Edward Island uses its own pricing model, “Charlottetown benchmark,” to calculate fuel prices. Meanwhile, all other Atlantic provinces use the New York Harbor benchmark when pricing fuel. This proposed amendment would bring PEI in line with neighbouring provinces by establishing a common regional standard aimed at improving transparency, consistency, and fairness in fuel pricing for Islanders.

Prince Edward Island continues to experience some of the highest gas prices in the country, placing additional pressure on Islanders already struggling with the rising cost of living. Significant price differences for fuel between PEI and neighbouring provinces have raised an increasing number of concerns among residents and businesses alike.

“We tabled this bill because Islanders deserve fairness and consistency when it comes to fuel pricing,” said Hon. Hal Perry, MLA for Tignish-Palmer Road. “By putting this change into law, Prince Edward Island would finally be aligned with the rest of the Atlantic region. This amendment should help lower fuel prices over time, while also making the system easier for Islanders to understand and compare.”

Mitchell and Perry noted that recommendations to move toward the New York Harbor benchmark were previously discussed in 2023, but no action was taken by government.

“There has been growing frustration and confusion among Islanders about how fuel prices are calculated in Prince Edward Island,” said Liberal Leader Robert Mitchell. “The Conservatives have continued to leave it to IRAC to review its own policies and programs, but Islanders cannot afford to wait through another lengthy review process. Confidence in the current system has been declining, and it’s time for action.”

The Liberals say the legislation is part of a broader effort to modernize PEI’s fuel pricing model and restore public confidence in how fuel prices are regulated in the province. If passed, fuel prices could be reduced upwards of 10 cents per litre.