The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Tuesday, December 1, 2015:
• Gasoline prices will increase by 1.0 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 2.0 cpl;
• Diesel prices will decrease by 3.0 cpl; and
• Propane prices will decrease by 0.4 cpl for Superior Propane, by 1.0 cpl for Irving Energy Distribution and Marketing, and there will be no change in pricing for Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 99.6 cpl to 100.8 cpl. Maximum before tax propane prices will now range from 69.2 cpl to 69.5 cpl.
The maximum price for furnace oil will now amount to 79.7 cpl, plus tax.
While the wholesale price of gasoline has escalated in recent days, the wholesale prices of furnace oil and diesel have moderated lately allowing for the price adjustments announced today.
The Commission's next scheduled price adjustment will be on December 15, 2015.