The Island Regulatory and Appeals Commission announced today the following petroleum pricing decisions, effective October 15, 2007:
• Gasoline prices will decrease by 2.5 cents per litre (cpl);
• Diesel prices will decrease by 2.1 cpl; and
• There will be no change to furnace fuel, stove oil and propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 97.1 cpl to 98.7 cpl.
With the peak summer driving season now over, overall demand for gasoline has diminished while, conversely, with the arrival of cooler weather demand for heating fuels is on the increase. In the meantime, crude prices continue to trend at record levels but, as of yet, have not impacted refined product prices.
The Commission’s next scheduled price adjustment will be on November 1, 2007.