The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, June 15, 2016:
• Gasoline prices will decrease by 4.3 cents per litre (cpl);
• Furnace oil, stove oil and propane prices will remain unchanged; and
• Diesel prices will increase by 0.5 cpl.
Pump prices for regular unleaded gasoline at self-serve outlets will now range from 101.5 cpl to 102.6 cpl. The maximum price for furnace oil remains at 71.2 cpl, plus tax.
Decreases in the wholesale price of gasoline noted over the past two weeks result in the price reduction announced today. Unlike gasoline, the wholesale diesel price has risen over the past two weeks causing a slight increase.
The Commission's next scheduled price adjustment will be on July 1, 2016.