The Energy and Utilities Board has come to a decision on how high the maximum wholesale profit margin should be for gas and heating oil.
It means you’ll have to pay half a cent a litre more after the weekly setting on Thursday regardless of what happens with the price of oil this week.
Irving Oil had applied for a higher increase in its wholesale profit margins for both gas and heating oil and the E-U-B decision falls short of what it had applied for.
The maximum wholesale margin for gas will increase from six cents a litre to just over 6 and a half cents. For heating oil, the wholesale margin, which had been five cents a litre, will rise to 5 and a half cents a litre on Thursday as well.
