Heating oil drops to lowest price since summer, but gas price up

Heating oil and diesel prices on P.E.I. carried on with their downward slide Friday morning, but gas prices were up again.

This was as a result of the regularly scheduled review of prices from the Island Regulatory and Appeals Commission.

The maximum price for heating oil fell 9.4 cents to $1.39per litre. The minimum price at the pump for diesel was down 8.0 cents to $1.99per litre.

But the minimum price at the pump for gasoline was up 5.7 cents to $1.65 a litre.

This is the lowest price Islanders have seen for heating oil since August, and even then it dropped below $1.40 a litre for only a few days. Before that, you have to look back to February of last year, before Russia's invasion of Ukraine.

The price of diesel has also not been below $2 a litre for many months. That last happened at the end of September, but the price has been above $2 a litre for most of the last year.

Prices for heating oil and diesel are down almost 40 cents a litre this month.