It is going to cost a little more to fill up at the gas pumps and heat your home with furnace oil. The provincial Energy and Utilities Board has granted increases in the retail margins for petroleum products. The decision follows a review of the maximum margins by Gardner Pinfold Consultants and a public hearing on the issue.

The report recommended a 7.6% increase in the retail margins for gas and diesel while maintaining the full service charge at 3 cents per litre. It also recommended a 12.2% increase in the retail margin for furnace oil. The last adjustments were made in November of 2019.

In its decision – the Board is raising the maximum retail margin for gas and diesel from 6.8 cents per litre to 7.33 cents per litre – and – a maximum delivery cost from 3 cents per litre to 3.5 cents per litre. There is no change in the maximum full service charge of 3 cents per litre for dealers providing full service at the pumps. The maximum retail margin on furnace oil will increase from 21 cents per litre to 23.56 cents per litre.

The price increases are effective as of 12.01am tomorrow. The Gardner Pinfold report can be found here.