• Gasoline prices will increase by 4.0 cents per litre (cpl);
• Furnace oil and stove oil prices will increase by 6.0 cpl; 
• Diesel prices will increase by 7.0 cpl; and
• There will be no changes in propane prices at this time.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 139.1 cpl to 141.2 cpl.

Record crude oil prices, and their impact on refined product prices over the past two weeks,  now necessitate increases in local petroleum product prices. This build in global crude pricing is attributable to a number of factors including:

• The fluctuating value of the U.S. dollar;
• Supply concerns relating to a strike of Brazilian oil workers and continued political unrest in Nigeria; 
• The onset of this year's hurricane season;
• Heightened Middle East geo-political tension related to the recent missile testing on the part of Iran; and
• Significant reduction in crude inventories as reported by the U.S. Department of Energy.

The Commission's next scheduled price adjustment will be on August 1, 2008.

—30—

Click here for published prices effective July 15, 2008.