ST. JOHN’S, Nfld. — The prices of fuel increased sharply today, driving the maximum price for diesel fuel at the pumps up 4.9 cents per litre, taxes included.
The new mid-monthly base prices, set by the Petroleum Products Pricing Commission effective 8 a.m. today, mirror the inflated fuel costs that prompted public demands for the provincial government to start regulating prices last year.
Prices have been soaring across North America during the past month amid escalating turmoil in the Middle East and, more recently, Venezuela.
The maximum retail prices for all grades of gasoline jumps by 7.4 cents per litre today, taxes included. Maximum retail prices for furnace oil and stove oil will increase by 4.1 cents per litre, not including HST. And the top price for propane heating fuel delivered to home tanks will increase by 3.2 cents per litre, also before HST.
A release from the Petroleum Products Pricing Commission said the unrest in the Middle East and Venezuela has resulted in the potential risk of supply shortages for global markets.
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