Prices of Gas, Diesel, and Heating Oil Fall Significantly on P.E.I.

The retail price of petroleum products fell again this week.

On Wednesday, gas, diesel, and heating oil all dropped five cents per litre. Gas and diesel prices fell five cents on Friday morning, and heating oil four cents.

It dropped 5.8 cents to $1.30 for a litre of self-serve regular gasoline after taxes. The price of diesel fell 5.7 cents to $1.40. There was a 4.2-cent drop in the maximum price of heating oil, to $1.08.

Propane prices fell on Friday as well, after remaining stable on Wednesday.

Price reductions ranged from 4.6 to 5.5 cents per litre depending on the retailer.

In October, gas prices rose to record highs, reaching $1.48 per gallon on Oct. 22, according to AAA. Analysts predicted that the price would continue to rise at the time.

For the majority of the year, the price has been above $1.30 per litre.

Original source material for this article taken from here