Milk and beer are going up, but the price of gas is down on Prince Edward Island.

The price of a barrel of oil has dropped over the last two weeks said the Island Regulatory and Appeals Commmission, and that's being passed along to Islanders. A litre of self-serve regular dropped 2.4 cents at midnight. That puts the average price between 97.8 and 99.9 cents per litre.

The price of furnace oil is down, by 3.8 cents to 76.2 cents, and a litre of diesel dropped 4.1 cents to between 98.3 cents and $1.04.

Milk prices for all fluid products are going up one cent a litre. Seventy per cent of that increase will go to processors, and 30 per cent to producers, said the P.E.I. Marketing Council.

Beer prices are also on the rise. A 12-pack of domestic beer will cost 50 cents more, and individual cans will go up 20 cents each. The P.E.I. Liquor Control Commission said even with the increase, beer prices are on par or lower than other places in the region.