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P.E.I. gas price drops, furnace oil and diesel increase Nov. 11, 2022

CHARLOTTETOWN, P.E.I. — Islanders are getting a little bit of aid on the gasoline pumps whereas the worth of furnace oil and diesel has elevated.

The Island Regulatory and Appeals Fee (IRAC) authorised the next petroleum worth changes, efficient 12:01 a.m. on Nov. 11.

The value of gasoline dropped 5 cents per litre (cpl).

The value of furnace oil elevated by 13 cpl.

The value of diesel elevated by 19 cpl.

Together with taxes, pump costs for normal unleaded gasoline at self-serve shops vary from 180.8 to 181.9 cpl whereas costs for diesel vary from 297.0 to 298.2 cpl.

The utmost worth for furnace oil is 209.1 cpl.

In making the adjustment, IRAC mentioned pricing changes outdoors of the scheduled weekly adjustment, in any other case often called interruptions, are typically required to reply to market circumstances and make sure that petroleum costs are honest for customers and wholesalers-retailers.

As international markets proceed to expertise intense fluctuations within the worth of petroleum merchandise, the fee mentioned it has needed to reply with applicable pricing changes to keep up equity for Islanders and constant provide.

IRAC’s subsequent scheduled pricing adjustment is Nov. 18.

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