The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Thursday, January 15, 2015:
• Gasoline prices will decrease by 5.4 cents per litre (cpl);
• Furnace and stove oil prices will decrease by 6.2 cpl; and
• Diesel prices will decrease by 6.0 cpl.
Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 88.7 cpl to 89.8 cpl.
The maximum price for furnace oil will now amount to 80.0 cpl plus tax.
Reduced overall wholesale pricing for all petroleum products observed over the past two weeks allows for the price adjustments announced today.
The Commission’s next scheduled price adjustment will be on February 1, 2015.