Island, August 14, 2006 —
Regulatory and Appeals Commission announced today that wholesalers have
been authorized to decrease gasoline prices in their dealer and consumer
schedules by 4.8 cents per litre (cpl) effective 12:01 a.m. on Tuesday,
August 15, 2006. The current prices for other petroleum products will
remain in effect.
prices for regular unleaded gasoline at self-serve outlets will now
range from 113.4 cents per litre to 115.0 cents per litre.
announcing the price change, the Commission indicated that events over
the past few days have moderated several months of upward price pressure
on gasoline. Commission Chair Moe Rodgerson says the uncovering of
planned terrorist activities in London, the apparent cessation of
hostilities in the Middle East and the return to production of some
previously shutdown pipelines have combined to reduce crude prices by
several dollars per barrel.
Commission’s next scheduled price adjustment will be on September 1.
Click here for published prices effective
August 15, 2006