Gas, diesel, furnace oil prices drop

The cost of gas had an unexpected drop overnight after an unscheduled adjustment brought the minimum price of regular self-serve down by 5.7 cents per litre (cpl).

In its adjustment, which went into effect at 12:01 a.m. on Aug. 10, the Island Regulatory and Appeals Commission (IRAC) announced the price of regular self-serve gasoline now ranges from 176.2 to 177.3 cpl.

It is the lowest the price of gas has been in P.E.I. since April 21.

The maximum price of furnace oil also went down with a 9.4-cpl decrease while the minimum price of diesel dropped 10.3 cpl.

With the changes, the maximum price of furnace oil is 137.9 cpl while diesel ranges from 185.3 to 186.4 cpl.

In announcing the changes, IRAC said the price of gas dropped 5.0 cpl while furnace oil and diesel dropped 9.0 cpl. Those amounts referred to prices before additional costs like margins, taxes and the carbon levy.

IRAC’S next scheduled adjustment is Aug. 12.