The Island Regulatory and Appeals Commission announced today the following petroleum pricing decisions, effective July 22, 2008:
• Gasoline prices will decrease by 5.5 cents per litre (cpl);
• Furnace oil and stove oil prices will decrease by 5.5 cpl;
• Diesel prices will decrease by 4.0 cpl; and
• There will be no changes in propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 133.4 cpl to 135.5 cpl.
Recent significant reductions in the price of crude are now beginning to be reflected in the commodities market; therefore, an unscheduled reduction in Island petroleum product prices is warranted at this time.
The Commission’s next scheduled price adjustment will be on August 1, 2008.