P.E.I. gas price down again, but heating oil up

The price of gas on P.E.I. fell again on Friday, but in a change from the last couple of weeks both heating oil and diesel were up.

This was the regular weekly price review from the Island Regulatory and Appeals Commission. IRAC had its first two unscheduled changes this month — with prices crashing — since moving to weekly reviews. There was no unscheduled change this week.

The price of gas has fallen dramatically this month. The minimum price for a litre of self-serve gas fell 4.1 cents overnight to $0.71. It's down 34.5 cents since March 6.

Heating oil was up three cents to a maximum of $0.69. It's still down from the price two weeks. On March 6 it was $0.85.

The minimum price for self-serve diesel at the pump was up 3.4 cents to $0.95. On March 13 it was $1.13.

Propane prices changed by retailer

• Down 2.2 cents per litre for Island Petroleum.
• Down 0.8 cents per litre for Superior Propane
• Down 0.1 cents per litre for Irving.
• No change for Kenmac Energy and Noonan Petroleum.

Maximum prices for propane will range from $0.67 to $0.66 per litre.

IRAC has said reduced demand to due the COVID-19 pandemic and a crude oil price war between Russia and Saudi Arabia have been bringing prices down.

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