The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Tuesday, November 15, 2011:
• Gasoline prices will remain unchanged;
• Diesel prices will increase by 6.0 cents per litre (cpl);
• Furnace and stove oil prices will increase by 5.0 cpl and;
• There will be no change in propane prices at this time.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will continue to range from 117.5 cpl to 119.6 cpl.
The maximum allowable price for furnace oil, not including GST of 5%, will now amount to 107.4 cpl.
Significant increases in the wholesale price of furnace oil and diesel observed since November 1 necessitate the price adjustments announced today.
The Commission's next scheduled price adjustment will be on December 1, 2011.