The penny may be going out of circulation but there will be a few more pennies circulating in Prince Edward Island customer’s pockets once the new gas prices go into effect tomorrow.
Effective 12:01 a.m. Friday, March 1 gas prices will drop by one cent per litre, The Guardian has learned.
That will push the price at the pumps down to 127.3 to 128.3 cents per litre.
Diesel prices will drop by 2.5 cents per litre.
Furnace and stove oil prices will decrease by 1.5 cents per litre.
The Island Regulatory and Appeals Commission, which regulates gas prices in Prince Edward Island, will make the new prices official Friday morning.
Gasbuddy.com, a website that tracks gas prices in Canada, said the average price at the pumps in Canada is 130.0 cents per litre and holding steady.
Let's see, then the amount of time an Islander will save will be approximately the same amount of time it takes to squeeze out $3.95 worth of gas? Each year? And this only costs thirty millon dollars? Clearly, this is a great example of why our MLA's deserve a raise!