Home heating oil prices cut as IRAC issues mid-March price adjustment

Published on March 14, 2014
Gas prices dropped in Prince Edward Island.

Homeowners are getting the biggest break as the Island Regulatory and Appeals Commission gets set to release its mid-month price adjustments.

Home heating oil prices, including furnace and stove oil, will drop by 7.0 cents per litre, The Guardian has learned. That will push prices down from 121.3 to 114.3 cents per litre.

Diesel prices will fall 6.0 cents per litre.

The price at the pumps will also fall, but not as dramatically.

Gas prices will drop 1.5 cents per litre. That will push pump prices down to 136.8 to 137.9 cents per litre.

Islanders continue to pay a nickel or more per litre than the national average according to Gasbuddy.com, a website that tracks gas prices in North America.

Gasbuddy.com says the average price at the pumps across Canada is now 131.9 cents per litre and holding steady.

The commission will make the new prices official Saturday. The next scheduled price adjustment is on April 1.