Island, July 31, 2006 —
The Island Regulatory and Appeals
Commission announced today that wholesalers have been authorized to
increase prices in their dealer and consumer schedules by 1.0 cent per
litre (cpl) on gasoline and by 2.0 cpl on diesel, effective 12:01 a.m.
on Tuesday, August 1, 2006. There will be no change in furnace or stove
oil prices at this time.
Including related tax
calculations, pump prices for regular unleaded gasoline at self-serve
outlets will now range from 118.5 cents per litre to 120.1 cents per
In addition, Irving
Oil Marketing Limited received approval to increase by 2.6 cpl, and
Superior Propane Inc. received approval to increase by 2.9 cpl, all
propane prices contained in their respective propane pricing schedules
based on increased costs.
In announcing the
price changes, the Commission indicated that the lack of any relief in
petroleum prices as of late is due largely to a continued strong growth
in domestic consumer demand. In addition, persistent international
supply disruptions, particularly in Nigeria, combined with a number of
North American refinery production interruptions this past week,
continue to place upward pressure on world oil prices.
The Commission’s next
scheduled price adjustment will be on August 15.
Click here for published prices effective
August 1, 2006