The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Sunday, March 1, 2015:
• Gasoline prices will increase by 4.0 cents per litre (cpl);
• Furnace and stove oil prices will increase by 3.2 cpl;
• Diesel prices will increase by 3.2 cpl; and
• There will be no change in propane prices at this time.
These price changes reflect the continued increase in the wholesale price of gasoline, furnace oil and diesel on the commodity market. There is a great deal of speculative buying and selling going on in that market.
With these changes, pump prices for regular unleaded gasoline at self-service outlets will now range from 107.8 cpl to 109.0 cpl. Maximum furnace oil prices will now amount to 99.2 cpl plus tax. Maximum before tax propane prices will continue to range from 71.6 cpl to 68.8 cpl.
For more information on the Island Regulatory and Appeals Commission and petroleum prices, visit www.irac.pe.ca.
The Commission’s next scheduled price adjustment will be on March 15, 2015.