A jump in gasoline prices overnight.
The Island Regulatory and Appeals Commission approved a 4-cents per litre increase in gasoline prices, which took effect just after midnight this morning.
Pump prices for regular self-serve will now range from $1.19 to $1.20 per litre. IRAC says the increase was necessary because of significant increases in the wholesale price of gasoline. It points to an abnormally high demand for gasoline for this time of year coupled with a reduction in inventory.
There’s no change in the prices of furnace oil, stove oil, diesel or propane.