Island, July 14, 2006 —
Island Regulatory and Appeals Commission today authorized wholesalers to
increase gasoline prices in their dealer and consumer schedules by 3.2
cents per litre (cpl) effective 12:01 a.m. Saturday, July 15, 2006.
Pump prices for
regular unleaded gasoline at self-serve outlets will now range from
116.9 cpl to 118.5 cpl. The existing pricing for other petroleum
products will remain in effect.
In announcing the
price changes, the Commission indicated gasoline markets are being
significantly impacted by rising world oil prices.
Moe Rodgerson noted that over the past 14 days the price of crude has
risen by $3.00 per barrel, and over the past 4 weeks by over $7.00 per
barrel. Diminished U.S. gasoline inventories, increased consumer demand
and continued geo-political uncertainty in Nigeria and the Middle East,
have all combined to exert significant upward price pressure.
next scheduled price adjustment will be on August 1, 2006
Click here for published prices effective
July 15, 2006