Island, January 14, 2007 —
The Island Regulatory and Appeals Commission announced
today that wholesalers have been directed to decrease prices in their
dealer and consumer schedules by 6.5 cents per litre (cpl) on gasoline,
by 5.0 cpl on diesel and by 5.0 cpl on furnace fuel and stove oil,
effective 12:01 a.m. Monday, January 15, 2007.
Pump prices for
regular unleaded gasoline at self-serve outlets will now range from 90.8
cpl to 92.4 cpl.
There will be no changes in propane prices at this time.
The Commission indicated that a number of factors have come together to
create current market conditions including above average temperatures, a
de-escalation of international geo-political tensions, favourable
industry inventory builds and reduced investment fund activity.
Crude prices have fallen in excess of $6.00 per barrel since the
beginning of the year.
The Commission’s next
scheduled price adjustment will be on February 1, 2007.
Click here for published prices effective
January 15, 2007