Island, March 14, 2006 —
The Island Regulatory
and Appeals Commission announced today that wholesalers have been
authorized to increase prices in their dealer and consumer schedules by
4.3 cents per litre (cpl) on gasoline, by 2.8 cpl on diesel and by 2.7
cpl on furnace fuel and stove oil, effective 12:01 a.m. Wednesday, March
prices for regular unleaded gasoline at self-serve outlets will now
range from 96.9 cents per litre to 98.5 cents per litre. The maximum
prices for propane remain unchanged.
In announcing the
price increases, the Commission indicated that significant increases in
world crude prices observed over the past 14 days have affected
commodity markets and have necessitated price adjustments at this time.
Issues currently facing the market including continued high crude
prices, seasonal demand concerns and impending environmental regulations
may serve to continue upward pressure on gasoline prices, in particular,
in the coming months.
The Commission�s next
scheduled price adjustment will be on April 1st.
Click here for published prices effective
March 15, 2006