Gas prices drop two cents

The Guardian (Charlottetown) - - THE ISLAND -

The price of gas has de­creased by two cents in to­day’s reg­u­larly sched­uled price ad­just­ment.

Ac­cord­ing to the Is­land Reg­u­la­tory and Ap­peals Com­mis­sion, pump prices for reg­u­lar, un­leaded gaso­line at self-serve out­lets now range from 116.6 cpl to 117.8 cpl.

There was no change to the price of diesel, propane, fur­nace or stove oil.

The mid-month ad­just­ment fol­lows an un­sched­uled price in­crease four days ago on Nov. 11 that, at that time, in­cluded a 4.5 cent-per-litre hike for the price of gas and 2.5 cpl in­creases to the price of diesel, fur­nace and stove oil.

In fact, the price of gas has in­creased three times since Oct. 15, and is now — even with to­day’s an­nounced de­cease — roughly

10 cents per litre more ex­pen­sive than it was a month ago.

The pre­vi­ous in­creases were blamed on an ab­nor­mally high de­mand for gaso­line for this time of year, pro­duc­tion de­lays caused by hur­ri­cane Har­vey and con­tin­ued es­ca­la­tion of whole­sale prices.

To­day, the com­mis­sion says it was able to ap­prove a lower price be­cause of an in­crease in sup­ply and a mod­er­a­tion of whole­sale prices for gaso­line.

The com­mis­sion’s next sched­uled price ad­just­ment is slated for Dec. 1.

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