The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, August 10, 2011:
• Gasoline prices will decrease by 4.5 cents per litre (cpl);
• Diesel prices will decrease by 4.0 cpl;
• Furnace and stove oil prices will decrease by 3.0 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 118.9 cpl to 121.0 cpl.
Significant reductions in the wholesale price of gasoline, diesel and furnace oil observed since August 1st 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 August 15, 2011.