The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, January 12, 2012:
● Gasoline prices will increase by 3.0 cents per litre (cpl);
● Furnace and stove oil prices will increase by 5.0 cpl;
● Diesel prices will increase by 4.0 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 now range from 119.1 cpl to 121.2 cpl.
A substantial increase in the wholesale price of gasoline, furnace oil and diesel observed since the Commission made its last price adjustment has necessitated the unscheduled price increases announced today.
The Commission's next scheduled price adjustment will be on January 15, 2012.