Prices down for gas, diesel, heating oil

Prices for all of the petroleum products regulated by the Island Regulatory and Appeals Commission were down overnight Tuesday.

It was the regular mid-month price review from IRAC.

Gas saw the steepest drop, with the price of regular, self-serve gasoline falling 5.2 cents per litre, to $1.259.

Diesel dropped 1.5 cents to $1.347, and furnace oil was down a cent to $0.995.

Propane prices varied by retailer.

• Irving: Down 1.4 cents per litre to $0.729 for bulk delivery.
• Kenmac: Down 1.9 cents per litre to $0.739 for bulk delivery.
• Superior: Down 1.5 cents per litre to $0.743 for bulk delivery.

This is the second price drop for gasoline in May, following rapid increases in April that included three unscheduled increases.

The price started in April at $1.198 for regular, self-serve and peaked at $1.346 on April 27.

In a news release, IRAC said wholesale prices are falling due to an increase in refining capacity in the U.S. It said the average price for gas in Canada is currently $1.338, with prices in the Maritimes below that average.

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