The Island Regulatory and Appeals Commission has approved a gas price increase of seven cents.
Furnace and stove oil prices will increase by 4.0 cpl; while Diesel prices will increase by 4.0 cpl; and propane prices will increase by 2.5 cpl for Superior Propane, by
5.0 cpl for Irving Energy Distribution and Marketing and by 2.7 cpl for
Kenmac Energy Inc.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 127.3 cpl to 128.3 cpl.
The maximum price for furnace oil will now amount to 110.3 cpl plus GST.
In a statement released early this morning, IRAC said continued increases in the wholesale price of gasoline and distillate petroleum products since the Commission’s last price adjustment necessitate the above described petroleum product price increases.
The commission's next scheduled price adjustment will be on Feb. 15.