Gas, diesel, heating oil prices all take big drop

·1 min read
Gas prices are normally reviewed on Fridays. (Richie Bulger/CBC - image credit)
Gas prices are normally reviewed on Fridays. (Richie Bulger/CBC - image credit)

In an unscheduled price review, P.E.I.'s Island Regulatory and Appeals Commission lowered the price of gas and heating oil.

The minimum price for a litre of self-serve gasoline dropped 5.7 cents to $1.36. For diesel the minimum price for self-serve was down 5.8 cents to $1.46.

The maximum price for heating oil fell 5.3 cents to $1.12.

IRAC said it made the unscheduled change to match falling wholesale prices.

Gas prices hit record highs on P.E.I. in October. They are down 12.3 cents from that peak but remain relatively high. Price started the year at $1.05, but they have been more than $1.30 for most of the year.

IRAC regularly reviews prices for adjustment every Friday.

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