The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Sunday, November 1, 2015:
• Gasoline prices will decrease by 2.1 cents per litre (cpl);
• There will be no change in furnace and stove oil prices;
• Diesel prices will decrease by 1.8 cpl; and
• Propane prices will increase by 2.6 cpl for Superior Propane, by 1.5 cpl for Irving Energy Distribution and Marketing and by 1.5 cpl for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 97.1 cpl to 98.3 cpl. Maximum before tax propane prices will now range from 69.2 cpl to 70.2 cpl.
The maximum price for furnace oil will continue at 79.9 cpl plus tax.
Reductions in the wholesale price of both gasoline and diesel observed over the past two weeks afford the price reductions in both products announced today.
Gasoline prices throughout the Atlantic provinces are found to be comparable with regular self-serve gasoline in Halifax, NS currently at 97.1 cpl; Moncton, NB at 96.9 cpl; New Glasgow, NS at 98.2 cpl; Corner Brook, NL at 104.8 cpl and Charlottetown at 97.1 cpl.
The Commission's next scheduled price adjustment will be on November 15, 2015.