P.E.I. gas prices drop below 90 cents

The regular mid-month price adjustment by P.E.I.s Island Regulatory and Appeals Commission dropped the price of gasoline below 90 cents/litre.

The price for a litre of self-serve, regular gas now ranges between 88.7 and 89.8 cents, down 5.4 cents. A price not seensince May 2009.

Heating oil prices down fell 6.2 cents per litre to 80 cents.

Diesel prices are also down by 6.0 cents, to 111.5 cents/litre.

IRAC said the continuing slide in the price of crude oil, running below $50 a barrel this week, allowed for the price decrease.

Crude oil prices, which were as high as $105 in June, are not expected to rebound significantly this year.

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