CHARLOTTETOWN, P.E.I. - Fuel prices on P.E.I. took another dip in the Island Regulatory and Appeals Commission’s regularly scheduled adjustment this morning.
The cost of gas went down by 4.5 cents per litre (cpl), meaning pump prices for regular unleaded gasoline at self-serve outlets now ranges from 108.9 cpl to 110.1 cpl, including adjustments for taxes.
Diesel costs dropped by 3.9 cpl, so drivers will now be paying between 134.7 cpl to 135.8 cpl at the pumps.
Furnace and stove oil prices decreased 3 cpl. The maximum price for furnace oil now amounts to 98.3 cpl, plus tax.
Propane prices dipped by 2.1 cents per litre (cpl) for Superior Propane, 1.7 cpl for Kenmac Energy Inc. and by 2.5 cpl for Irving Energy Distribution and Marketing. Maximum before tax propane prices will now range from 80.3 cpl to 81.4 cpl.
IRAC said changes in wholesale pricing since its last price adjustment allow for the price reductions announced Thursday.
A sustained build in gasoline inventories in recent weeks, the return to production of a number of refineries previously shut down for maintenance and the wind down of harvest-related activities have all combined to exert a downward pressure on wholesale prices, said the commission.
IRAC’s next scheduled price adjustment will be on Dec. 1.