The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Saturday, November 1, 2014:
• Gasoline prices will decrease by 4.2 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 2.5 cpl;
• Diesel prices will decrease by 1.0 cpl; and
• Propane prices will increase by 0.9 cpl for Superior Propane, by 0.6 cpl for Irving Energy Distribution and Marketing and decrease by 1.0 cpl for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 118.9 cpl to 120.0 cpl. Maximum before tax propane prices will now range from 79.4 cpl to 82.0 cpl.
The maximum price for furnace oil will now amount to 96.3 cpl plus tax.
Reduced overall wholesale pricing for both gasoline and distillate products allow for the price adjustments announced today.
The Commission's next scheduled price adjustment will be on November 15, 2014.