The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Friday, October 9, 2015:
• Furnace and stove oil prices will increase by 5.0 cents per litre (cpl);
• Diesel prices will increase by 5.0 cpl; and
• There will be no change in gasoline or propane prices at this time.
The maximum price for furnace oil will now amount to 79.9 cpl plus tax.
A significant jump in the wholesale price of furnace oil and diesel, primarily due to the switch to the more costly winter blend formula for these products, has necessitated this unscheduled price adjustment announced today.
Despite these increases, furnace oil prices on Prince Edward Island remain the lowest in the Maritime provinces.
The Commission's next scheduled price adjustment will be on October 15, 2015.