An oil tank in the basement next to the furnace is a once-common household heating setup in New Brunswick that has been in significant decline. (Shane Ross/CBC)
A decision by the New Brunswick Energy and Utilities Board to allow heating oil companies to add 9.03 cents per litre to the price of the fuel to cover rising expenses will take effect across the province on Friday.
With HST added to the new amount consumers will experience up to a seven per cent price increase, the largest in a single week on heating fuel in New Brunswick since last October.
In a decision granting the increase released late last week, the utilities board expressed worry about companies being able to continue serving customers who still use oil for heat given a rapidly shrinking market for the fuel.
“The board remains concerned about the security of supply in light of decreasing volumes,” it wrote in approving the higher charges.
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