The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, August 15, 2012:
• Gasoline prices will increase by 4.0 cents per litre (cpl);
• Furnace and stove oil prices will increase by 3.8 cpl;
• Diesel prices will increase by 3.9 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 125.5 cpl to 126.5 cpl.
The maximum price for furnace oil will now amount to 102.8 cpl, plus GST.
Significant increases in the wholesale price of all three petroleum products over the past two weeks now necessitate the petroleum price adjustments outlined above.
The Commission's next scheduled price adjustment will be on September 1, 2012.