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Gas price drops for second day in a row

It's a new low for gas prices this year. (Kevin Yarr/CBC - image credit)
It's a new low for gas prices this year. (Kevin Yarr/CBC - image credit)

The price of gas is down again on P.E.I. Friday morning, following an unscheduled reduction on Thursday, and so are prices for heating oil and diesel.

It was the regularly scheduled review of prices by the Island Regulatory and Appeals Commission.

The minimum price at the pump for gasoline fell six cents to $1.556, diesel was down 5.8 cents to $1.888.

The maximum price for heating oil was down 5.2 cents to $1.314.

Gas prices have been up and down for most of the year, but the Friday morning price is the lowest for 2023 so far, and in the range that it was before prices spiked following Russia's invasion of Ukraine in February of last year.

P.E.I. petroleum product prices

Heating oil prices are at their lowest since the invasion.

Diesel prices remain high, despite a recent downward trend.

The minimum price at the pump is 48.2 cents lower than it was at the end of January, but still 15.5 cents higher than it was before the invasion.

The next scheduled review from IRAC is March 24.