Fuel prices on P.E.I. slide further

·1 min read
The price of diesel has not been this low since March. (Mitch Cormier/CBC - image credit)
The price of diesel has not been this low since March. (Mitch Cormier/CBC - image credit)

Prices for gas, heating oil and diesel are all down on P.E.I. Friday morning.

It was the regular weekly price review from the Island Regulatory and Appeals Commission.

The minimum price at the pump for gasoline fell 5.5 cents to $1.865, the lowest since the end of April.

The minimum price for diesel dropped 5.7 cents to $2.037, its lowest since March 24, and the maximum price for heating oil fell 4.2 cents to $1.547. The last time the price was that low was March 19.

P.E.I. petroleum product prices

Prices for all three fuels hit record levels this spring, but the price of gas has been on the way down since mid-June, and prices for diesel and heating oil started falling in mid-May.

Heating oil and gasoline prices have been a factor in driving inflation on P.E.I., which has been the highest in the country for 17 months.

Prices spiked at the end of February when Russia invaded Ukraine, but a shortage of refining capacity as economies emerged from the worst of the pandemic has also been a factor.

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