The Island Regulatory and Appeals Commission has mixed news for Island consumers.
Effective 12:01 a.m., Sunday, Dec. 15, 2013 gasoline prices will decrease by 1.0 cent per litre.
However, furnace and stove oil prices will increase by 1.5 cents per litre.
There will be no change in diesel or propane prices at this time.
Pump prices for regular unleaded gasoline at self-serve outlets will now range from 129.5 to 130.6 cents per litre.
The maximum price for furnace oil will now amount to 113.3 cents per litre plus tax.
While some moderation in wholesale gasoline pricing has occurred, the commission says retail furnace oil prices now require additional adjustment due to escalated wholesale pricing observed over the past two weeks.
"During this time the New York Harbour wholesale furnace oil price has risen in order of 2.5 cents per litre," the commission says.
The return to near full production capacity of a number of North American East Coast refineries has served to address previously noted shortages of both gasoline and distillate inventories, the commission added.
"The continued strong export of furnace oil to Europe and South America, however, combined with traditional North American seasonal demand has resulted in a continued upward pressure on the wholesale price of heating oil."
The commission's next scheduled price adjustment will be on Jan. 1, 2014.
