The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Saturday, October 1, 2016:
• Gasoline prices will increase by 2.9 cents per litre (cpl);
• Furnace and stove oil prices will increase by 3.2 cpl;
• Diesel prices will increase by 3.1 cpl; and
• Propane prices will increase by 1.0 cpl for Superior Propane, by 1.4 cpl for Irving Energy Distribution and Marketing and by 2.9 cpl for Kenmac Energy Inc.
Factoring in adjustments for taxes, including the increase in HST from 14% to 15% effective October 1, pump prices for regular unleaded gasoline at self-serve outlets will now range from 104.1 cpl to 105.2 cpl. Maximum before tax propane prices will now range from 69.4 cpl to 70.1 cpl.
The maximum price for furnace oil will now amount to 75.3 cpl, plus tax.
Increases in the wholesale price of gasoline, furnace oil and diesel, primarily related to either increased seasonal demand or production and distribution interruptions (including a 12 day partial shut down of the Colonial pipeline system), necessitate the pricing adjustments announced today.
The Commission's next scheduled price adjustment will be on October 15, 2016.