The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, August 1, 2012:
• Gasoline prices will increase by 1.7 cents per litre (cpl);
• Furnace and stove oil prices will increase by 1.0 cpl;
• Diesel prices will increase by 1.0 cpl; and
• Propane prices will increase by 1.2 cpl for Superior Propane, by 1.1 cpl for Irving Energy Distribution and Marketing and by 1.8 cpl for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 121.3 cpl to 122.3 cpl.
The maximum price for furnace oil will now be 99.0 cpl, plus GST.
Increases in the wholesale price of all petroleum products over the past two weeks necessitates the above described petroleum product price adjustments.
The Commission's next scheduled price adjustment will be on August 15, 2012.