It is okay if it is different, so long as it contains :/usr/local/pgsql/bin
The documentation should make the distinction clearer.
Type 'man bash' from the command line to read about the bash shell. There is a section call "PATH". Here it reads:
PATH The search path for commands. It is a colon-separated list of
directories in which the shell looks for commands (see COMMAND
EXECUTION below). The default path is system-dependent, and is
set by the administrator who installs bash. A common value is
``/usr/gnu/bin:/usr/local/bin:/usr/ucb:/bin:/usr/bin:.''.
