Home heating fuel prices leap 4.1 cpl overnight

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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.

Organizations: Regulatory and Appeals Commission

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Recent comments

  • The Observer from Stratford
    February 16, 2013 - 12:13

    @cant wait: If you check the government website you'll see that they claim that the price of gas on April 1 will be adjusted to take the HST into account by also adjusting the other taxes added on to the real price of gas. Supposedly then the gas price shouldn't cxhange that much. Anybody here want to bet on that? Note to the Occupy Movement. Instead of wasting your time moaning about Wall Street which no one cares about and very few are directly involved with, put your efforts into protesting our highway robbery gas prices. Your support would skyrocket.

    February 16, 2013 - 06:59

    Can't wait for the HST to hit gas on April 1st!

  • Anne Hemphill
    February 15, 2013 - 11:26

    When is the minimum wage going to be altered to reflect the increase in livibg costs? No wonder we are losing all our bright young people to the oil fields, while immagrants are brought in and their way paid by us, the taxpayer. Time for some BIG changes in IRAC and our government.

  • Billy
    February 15, 2013 - 11:10

    Why isn't Ghiz speaking out with the Premier of NB to get the oil piped from the west???? We need to get Alberta oil and stop buying foreign brent crude!

    • sampson
      February 18, 2013 - 11:48

      Maybe you just need to burn less oil dimwit. I would love to see the price of oil go above $300 a barrel and see how much you pathetic whiners like it then!!!!!!!!!!!!

    February 15, 2013 - 10:21

    Hey IRAC flunkies, why wait until 01 March to announce the next increase, you have probably already been told what the next increase will be. You do not fool anyone here, We are used to fools in this province. The Government is full of them. So what is the real purpose of this ?? Is it to make the people obey their dictators or just another money grab. my tank was filled up on 23 Jan at $1.02, now 21 days later it is $1.14. How can you even attempt to make yourselves look crediable with figures like this when the price of oil products are dropping. Would love to see what your discount and The MLAs discounts are. From a citizen who has given up on finding a honest politician. May you all rot in hell.

  • Wondering
    February 15, 2013 - 10:10

    Here is a challenge! Maybe instead of mindless ranting and blaming everyone, depending when the price of gas or heating fuel goes up( I have my own villians in mind, but I won't bore you with that) we could ask, IRAC, our government and especially our press to offer a reasonable explantion of why. The world price of oil varies: today on the oil price .net site there is a wide price variety. We are told that all the oil we use here in Atlantic Canada comes from offshore while we have Tar Sands oil being sold at a discount price to the US and if the federal government has it's way to China. We have oil being produced in Newfoundland, we have a refinery in Halifax for sale, probably going to be shut down yet we do not have the leadership at any level in this country to take the bull by the horns and move western oil to Atlantic Canada where it could be refined and shipped to other markets. Our federal government seems content to let the multi-nationals make the policy, while the provinces play about in their own little sandboxes. We need to be informed (take note Guardian staff), we need strong leadership at the provincial level, and we need a national energy policy with vision and dedication to the best interests of Canada.

  • fred
    February 15, 2013 - 09:52

    Rich people invest in these petroleum products; on the market and it is the working poor who suffer. Just in a span of one month; the cost to fill your barrel; with furnace oil; went up $77.00 dollars.The average family ; running two cars; traveling to work and heating their home with oil ; is spending over a thousand dollars a month; just on oil and gas .With the electric rates set to take a big jump in april; we are between a rock and a hard place . The day;s of candle lite and the horse and wagon, are not far away.

  • The Observer from Stratford
    February 15, 2013 - 09:14

    In many countires where the people still have some courage left, exorbitant price increases like these would lead to boycotts, rioting, and the overthrow of the government. Here in peaceful and meek Canada we take it as if we were sheep. BAAH.

  • Bill Kays
    Bill Kays
    February 15, 2013 - 09:03

    Why does the Canadian Government allow speculation on oil prices? Speculative trading (which effectively is gambling with the prices) should not be permitted in any of the staples of life. This is where government has failed to protect us. Government used to be for the liberty of the individual, now it is more power for the government and less freedom for the individual.

  • mr.nobody
    February 15, 2013 - 08:58

    This is beginning to border the ridiculous. We are paying peak summer season prices in the dead of winter, and the prices just keep going up. The IRAC is not even trying to give the illusion that the pricing of crude oil is tied to gas and home heating oil prices. Right now crude is at $96 a barrel and this artificial price inflation is a thinly veiled tax grab by an inept government which is so far in debt it has betrayed the people to increase revenue. Shameful.

  • Boy
    February 15, 2013 - 08:30

    Boy O Boy , are we ever getting ripped off this winter , & our present goverment hasn't anything to do with it . I believe in the tooth fairy as well . A people revolt needs to come this way .

  • Hugh Janus
    February 15, 2013 - 08:25

    Just might have to look into one of those heat pumps.

  • Bob from Cardigan
    February 15, 2013 - 08:22

    Eventually fuel prices will hit critical mass and most people will switch to other alternatives. There are some really efficient electric stye heating systems that some have sworn by. I know I'll be looking for alternates this spring for the next winter season.

  • Janet Gaudet
    February 15, 2013 - 07:56

    I'm sure the people who work at IRAC aren't having any problem finding the money to buy oil or anything else they need to keep warm and well fed.