Island, March 31, 2007 — The
Island Regulatory and Appeals Commission announced today the following
petroleum pricing decisions, effective April 1, 2007:
pump prices for regular unleaded gasoline at self-serve outlets will now
range from 110.6 cpl to 112.1 cpl.
In announcing the
price adjustments, the Commission noted that a number of global
political and supply-related issues continue to put upward pressure on
world oil prices:
- Tensions between the United Kingdom and Iran have caused concern over a
potential disruption of oil shipments through the Gulf of Hormuz through
which 40% of the world's oil supplies flow;
- Refineries in the U.S. have been dealing with seasonal
maintenance-related production interruptions;
- Domestic North American consumer demand for gasoline continues to track
ahead of last year levels; and
disputes in France have interfered with the importation of gasoline
supplies from Europe.
affect of these ongoing developments has resulted in a continuing
increase in crude and refined product pricing.
Because of ongoing volatility in
world markets, the Commission continues to monitor market conditions
and, if necessary, will implement an unscheduled price adjustment prior
to the next scheduled adjustment date of April 15, 2007.
Average NYMEX reported pricing:
Regular Unleaded Gasoline
Feb 1 - Feb 27
Mar 1 - Mar 29
Click here for published prices effective
April 1, 2007