Gas, heating oil, diesel prices all down
CBC
Prices for fuel on P.E.I. were lower on Friday morning.
It was the regular weekly price review from the Island Regulatory and Appeals Commission.
After increasing rapidly through July prices for all three fuels levelled off my mid-August, and gas prices began to fall rapidly a month later. Prices for gas are down more than 30 cents.
It is not unusual for gas prices to drop in the fall, with demand down after the summer travel season.
What is uncommon is that heating oil prices are still falling at a time of year when demand is rising. Prices are down about six cents since mid-September.
In a news release connected to the price announcement, IRAC said it is still waiting for official word from Ottawa to drop the carbon tax from the price of heating oil.
That federal fuel charge is currently 17.38 cents per litre.
The commission noted, however, that the price it sets for heating oil is a maximum.
"Wholesalers and retailers have the ability to subtract the carbon tax portion from the wholesale/retail price," the news release said.
Once IRAC receives formal direction from the federal government, it will remove the federal fuel charge from the price of heating oil, the release said.
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