The Island Regulatory and Appeals Commission approved price decreases for gas, diesel, furnace and stove oil, which took effect 12:01 a.m. Jan. 15.
Gas prices decreased by 3.5 cents per litre (cpl). Pump prices for regular, unleaded gasoline at self-serve outlets now ranges from $1.10 per litre, to $1.12.1. Diesel prices decreased by 2.0 cpl.
Furnace and stove oil prices decreased 1.5 cpl, and now amount to 80.4 cpl, plus tax.
Propane prices remain unchanged.
IRAC says the price adjustments are due to marked reductions in the wholesale price of all three petroleum products over the past two weeks, related to overall reduced demand and growing inventory levels.
The commission’s next scheduled adjustment is Feb. 1.