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P.E.I. gas prices take another unexpected dip Nov. 8

P.E.I. gas prices.
P.E.I. gas prices. - SaltWire Network

Gas, home heating oil and diesel prices have unexpectedly dropped in an unscheduled pricing adjustment overnight.

Gas is down by 3.3 cents per litre, while furnace and stove oil dropped by 2.2 cpl, and diesel prices decreased by 2.2 cpl.

The Island Regulatory and Appeals Commission says there are a number of factors that led to this decision.

A number of refineries, which had previously been shut down for seasonal maintenance, are back up and running. As well, gas inventory levels are high and demand is low now that harvesting activities are winding down. All of these combined have led to a drop in the wholesale market pricing lately.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 114.1 to 115.2 cpl.

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