Fuel prices fall further on P.E.I.

·1 min read
The price of gas has been falling since the spring. (Richie Bulger/CBC - image credit)
The price of gas has been falling since the spring. (Richie Bulger/CBC - image credit)

Prices for gas, diesel and heating oil were all down Friday morning.

The minimum price at the pump for a litre of gasoline fell 5.2 cents to $1.60. Diesel was down 5.9 cents to $2.05.

The maximum price for heating oil was down 3.7 cents per litre to $1.55.

P.E.I. petroleum product prices

Propane prices bumped up. Prices vary by retailer, but the average price for bulk delivery was up 1.4 cents per litre to $0.96.

Fuel prices on P.E.I. hit record highs in the spring, driven up by an increase in world oil prices caused by the war in Ukraine and a shortfall in refining capacity as pandemic restrictions were lifted and demand increased.

Gas prices have been falling since the spring. Heating oil and diesel prices were on a downward trend early in the summer, jumped up in August, but have been down the last two weeks.

Prices are down more than 20 per cent from those record highs.