Furnace oil, diesel prices drop

People who heat with oil are getting a bit of relief after the Island Regulatory and Appeals Commission announced a 15.8-cents-per-litre drop in the maximum price.

The unscheduled adjustment, which went into effect at 12:01 a.m. on May 18, brings the maximum price of furnace oil to 191.4 cpl.

IRAC also announced a 17.3 cpl drop in the minimum price of diesel.

The change means the price of diesel ranges from 242.4 to 243.6 cpl.

There was no change to the price of gasoline.

In announcing the unscheduled change, IRAC said there was a 15.0 cpl decrease in the prices of furnace oil and diesel.

That amount referred to prices before additional costs like margins, taxes and the carbon levy.

IRAC'S next scheduled adjustment is May 20.