Island, November 30, 2005 �
The Island Regulatory
and Appeals Commission announced today that wholesalers have been
authorized to decrease petroleum prices in their dealer and consumer schedules by
cents per litre (cpl) on gasoline, and by 5.5 cpl on diesel,
furnace fuel and stove oil, effective 12:01 a.m. Thursday, December 1,
Pump prices for regular unleaded gasoline at self-serve outlets will now
from 92.9 cpl to 94.5 cpl.
In announcing the price reductions, Commission Chair, Moe Rodgerson,
indicated that the milder than normal weather experienced this fall in
much of North America has effectively reduced overall demand for heating
oil, in particular, allowing refiners to return inventories to near
traditional levels despite hurricane related interruptions experienced
earlier this fall. This market stabilization has resulted in
reduced pressure on petroleum commodity prices in general which is being
reflected in today's announced price reductions.
addition, Irving Oil Limited received approval to decrease, by 0.9 cpl,
and Superior Propane Inc. received approval to decrease, by 1.2 cpl, all
propane prices contained in their respective propane pricing schedules
based on decreases in costs.
Commission�s next scheduled price adjustment, if necessary, will be on
Click here for published prices effective
December 1, 2005