P.E.I. gas prices fall after 3 record-setting weeks
CBC
A string of weeks with record-high gas prices on P.E.I. ended Friday, and the price of diesel and heating oil was also down.
The minimum cost of a litre of regular, self-serve gas fell 3.7 cents to $1.44 overnight. It was part of the regular review of petroleum product prices from the Island Regulatory and Appeals Commission.
The cost of diesel and heating oil also fell.
Prices have been high for months — with gas more than $1.30 since June 4 — but they began spiking in early September.
The gas price set a new record on Oct. 8, topping a previous high set in May 2014.
The price continued to rise the following two weeks before giving motorists a bit of relief at the pumps this Friday.
While the price was down this week, analysts expect prices to remain high.