After a string of price increases, there was a drop in gasoline prices overnight.
The Island Regulatory and Appeals Commission approved a decrease of 2-cents per litre overnight. It means pump prices for regular self-serve will now range from about $1.16 to $1.17 per litre.
IRAC says the price decrease was a result of an increase in supply that has moderated the wholesale price of gasoline.
There’s no change in the price of furnace oil, stove oil or diesel.