How to rationalize gasoline prices?

Lloyd Kerry is correct to complain about P.E.I.’s gouging gas price of 95.9 cents/litre. Yesterday the world price of crude oil fell to $30.44 per barrel but Islanders still pay the same retail price. IRAC never seems to give us consistent reasons for establishing retail prices but always have a new story to rationalize its decision. I don’t believe IRAC can justify a price of 95.9 cents/litre so I expect them to reduce it soon. David Steeves, Charlottetown