Falling oil prices cause PEI gas prices to drop 6 cents per litre
In a report from the CBC, oil prices across the country and worldwide have dropped significantly. Experts believe by Wednesday gas prices across Canada could be down 7 cents per litre. Here on PEI, in anticipation of those changes, the Island Regulatory and Appeals Commission (IRAC) has announced an unscheduled fuel price adjustment. Gas, diesel and furnace oil prices have all decreased by 6 cents per litre.
On Friday, when the regular IRAC price adjustments roll out Islanders can likely expect a further reduction in prices.
IRAC Press Release
The Island Regulatory and Appeals Commission approved the following petroleum prices effective 12:01 a.m., Tuesday, March 10, 2020:
The price of gasoline, furnace oil, and diesel will each decrease by 6.0 cents per litre (cpl).
At self-serve outlets, regular unleaded gasoline will now range from 102.8 to 104.0 cpl. Diesel will range from 106.3 to 107.4 cpl.
The maximum price for furnace oil is 79.3 cpl.
This interruption is a result of the steep drop in the price of all petroleum products
Gas Prices Across Canada
PEI – 102.8 to 104.0
Halifax – 105.9
St. John’s -119.3
Moncton – 110.8
Montreal – 111.3
Ottawa – 96.5
Toronto – 100.2
Calgary – 89.1
Vancouver – 133.0
** all prices based average pump price according to GasBuddy.com except for PEI prices which come directly from IRAC