The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Monday, December 1, 2014:
• Gasoline prices will decrease by 2.1 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 1.0 cpl;
• Diesel prices will decrease by 2.0 cpl; and
• Propane prices will decrease by 3.0 cpl for Superior Propane, by 2.8 cpl for Irving Energy Distribution and Marketing and by 2.0 cpl for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 113.8 cpl to 114.9 cpl. Maximum before tax propane prices will continue to range from 76.4 cpl to 79.2 cpl.
The maximum price for furnace oil will now amount to 96.3 cpl, plus tax.
Reduced overall wholesale pricing on all petroleum products allow for the price adjustments announced today.
The Commission’s next scheduled price adjustment will be on December 15, 2014.