P.E.I. gas prices drop 1 cent per litre

Price of furnace oil up four cents, gas costs also rise

Motorists across Prince Edward Island are getting a bit of a break at the gas pumps to start the month off.

Gasoline prices have dropped by a penny, with regular unleaded at self-serve outlets now ranging between 119 and 120.2 cents per litre.

Diesel is also down by a couple of cents, following the scheduled price adjustment by the Island Regulatory and Appeals Commission.

Furnace oil has decreased by 2.5 cents per litre, at a maximum price of 81.2 cents per litre, plus tax.

Meanwhile, propane prices are down between 3 and 3.6 cents, depending on the supplier.

"Improved supply and demand market dynamics for all products over the past two weeks now allow for the price reductions announced today," the commission said in a statement.

The next scheduled price adjustment will be on July 15.