The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to decrease the prices in their dealer and consumer schedules by 1.4 cents per litre (cpl) on gasoline, 2.0 cpl on diesel, and 3.3 cpl on furnace and stove oil. Effective April 1, 2003 the average maximum pump price of regular unleaded gasoline at self-serve outlets will be 82.6 cpl.
Irving Oil Limited received approval to increase, by 8.9 cpl, and Superior Propane Inc. received approval to increase, by 9.7 cpl, all propane prices contained in their respective propane pricing schedules based on increased product acquisition costs.
All pricing adjustments become effective at 12:01 a.m. on Tuesday, April 1, 2003.
As a result of the current volatility in world oil markets, the Commission will continue to closely monitor world events and their impact on these markets.
For additional information, contact Allison MacEwen, Island Regulatory and Appeals Commission at (902) 892-3501.