A day after thousands of Islanders were filled with warm fuzzy feelings from flowers and candy on St. Valentine’s Day, the Island Regulatory and Appeals Commission approved a chilling increase in home heating fuel.
In petroleum pricing decisions, effective 12:01 a.m., Friday, February 15, furnace and stove oil prices increased by 4.1 cpl.
Diesel prices also increased by 4.1 cpl while gasoline prices increased by 1.0 cent per litre (cpl)
There was no change in propane prices.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 128.3 cpl to 129.4 cpl.
The maximum price for furnace oil will now amount to 114.4 cpl plus GST.
IRAC said that increases in the wholesale price of all petroleum products over the past two weeks now necessitate petroleum price adjustments.
The commission's next scheduled price adjustment will be on March 1.