P.E.I. gas price down, diesel and heating oil up

·1 min read
The price of gas has been over $1.40 since Oct. 8. (Mitch Cormier CBC - image credit)
The price of gas has been over $1.40 since Oct. 8. (Mitch Cormier CBC - image credit)

When P.E.I. gas prices hit a record high for the third week in a row in October pundits were saying to expect high prices for some time to come.

The picture has not been that simple.

The gas price fell on the last Friday in October and held steady last week. The prices are down this Friday. The minimum price for a litre of regular at the pump fell 1.7 cents to $1.432.

But the diesel price is up 2.6 cents to $1.572. Heating oil is up 1.3 cents, to a maximum of $1.198.

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

On Oct. 8 the price of gas rose to $1.428, beating a previous high of $1.419 set in May 2014. It rose the following two weeks, peaking at $1.486.

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