The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, May 20, 2010:
Gasoline prices will decrease by 3.0 cents per litre (cpl);
Furnace and stove oil prices will decrease by 4.0 cpl;
Diesel prices will decrease by 4.4 cpl; and
There will be no change in propane prices at this time.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 96.6 cpl to 98.7 cpl.
A substantial decrease in the wholesale price of gasoline, furnace oil and diesel observed since the Commission made its last price adjustment has enabled the unscheduled price decreases announced today.
The Commission's next scheduled price adjustment will be on June 1, 2010.