The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Friday, June 15, 2012:
● Gasoline prices will decrease by 5.2 cents per litre (cpl);
● Furnace and stove oil prices will decrease by 4.0 cpl;
● Diesel prices will decrease by 4.0 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 117.4 cpl to 118.4 cpl.
The maximum price for furnace oil will now amount to 93.0 cpl plus GST.
Continued decreases in the wholesale prices of gasoline, furnace oil and diesel observed since the Commission made its last price adjustment have allowed for the petroleum price decreases announced today.
The Commission's next scheduled price adjustment will be on July 1, 2012.