The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Saturday, May 14, 2011:
• Gasoline prices will decrease by 5.5 cents per litre (cpl);
• Diesel prices will decrease by 5.9 cpl;
• Furnace and stove oil prices will decrease by 7.5 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 122.9 cpl to 125.0 cpl.
Significant reductions in the wholesale price of gasoline, diesel and furnace oil observed since May 1 now afford the Commission the opportunity to implement the above described product price reductions one day in advance of the normally scheduled May 15th adjustment date.
The Commission's next scheduled price adjustment will be on June 1, 2011.