The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, May 9, 2012:
• Gasoline prices will decrease by 4.5 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 3.9 cpl;
• Diesel prices will decrease by 3.6 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 123.4 cpl to 124.4 cpl.
The maximum price for furnace oil will now amount to 100.8 cpl, plus GST.
Significant reductions in the wholesale price of gasoline, heating oil and diesel observed since May 1 now afford the Commission the opportunity to implement the above described unscheduled product price reductions.
The Commission's next scheduled price adjustment will be on May 15, 2012.