Prices drop at the pumps

It’s cheaper to fill up at the pumps today after the Island Regulatory and Appeals Commission announced an 11.5cents-per-litre (cpl) drop in the minimum price of gas.

In an unscheduled adjustment, which went into effect at 12:01 a.m. on July 7, IRAC said the price of regular self-serve gasoline now ranges from 199.2 to 200.3 cpl.

The price of heating oil also went down with IRAC announcing a 13.7-cpl decrease, while the minimum price of diesel dropped by 14.9 cpl.

With the changes, the maximum price of furnace oil is 162.0 cpl while diesel ranges from 212.9 to 214.0 cpl.

In announcing the changes, IRAC said the price of gas decreased by 10.0 cpl while furnace oil and diesel went down by 13.0 cpl.

Those amounts referred to prices before additional costs like margins, taxes and the carbon levy.

IRAC’S next scheduled pricing adjustment is July 8.