Key takeaways:
- Costs have been declining for weeks.
- The price of diesel has not been this down since March.
Gas, heating oil, and diesel costs are all down on P.E.I. Friday morning.
It was the average weekly price review from the Island Regulatory and Appeals Commission. The lowest gasoline pump cost dropped 5.5 cents to $1.865, the weakest since the end of April.
The lowest diesel price fell 5.7 cents to $2.037, its most down since March 24, and the highest price for heating oil slipped 4.2 cents to $1.547. The last time the price was that low was March 19.
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Costs for all three fuels are at record levels this spring, but gas prices have been down since mid-June, and diesel and heating oil costs began dropping in mid-May.
Heating oil and gasoline costs have been forcing inflation on P.E.I., the highest in the nation for 17 months.
Prices spiked at the end of February when Russia invaded Ukraine. Still, a shortage of refining capacity as economies appeared from the most destructive pandemic has also been a characteristic.
Source – CBC News
