Island drivers are paying a little less for gas today at the pumps.
The Island Regulatory and Appeals Commission approved a decrease of 2.0 cents per litre (cpl), effective today at 12:01 a.m.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will range from 114.1 cpl to 115.2 cpl. Pump prices for self-serve diesel will range from 123.1 cpl to 124.2 cpl.
IRAC also announced that furnace prices will decrease by 2.8 cpl and diesel prices will decrease by 2.0 cpl. In addition, propane prices will decrease by 2.2 cpl for Superior Propane, by 2.8 cpl for Kenmac Energy Inc., by 2.5 cpl for Island Petroleum and by 2.3 cpl for Irving Energy Distribution and Marketing.
Including taxes, the maximum price for furnace oil is 93.6 cpl. Maximum before tax propane prices will range from 70.1 to 70.6 cpl.
The wholesale price of petroleum continues to drop on the New York Mercantile Exchange as a result of increased inventories in the US, resulting in lower prices.
As of June 14, the national average price of gasoline was 120.1 cpl. Pump prices were 116.8 cpl in Moncton, 108.6 cpl in Halifax and 127.7 cpl in Montreal.
The commission’s next scheduled price adjustment for P.E.I. is July 1.