P.E.I. gas prices plunge overnight

Gas prices on P.E.I. took a significant 5.5-cents-a litre-drop Wednesday night.

IRAC's unscheduled price adjustment puts pump prices between 83.9 and 85 cents per litre

It now costs between 83.9 and 85 cents per litre at P.E.I. pumps. (Elise Amendola/The Associated Press)

Gas prices on P.E.I. dropped sharply Wednesday night.              

Gas is down 5.5 cents a litre after the Island Regulatory and Appeals Commission's unscheduled price adjustment.

That puts prices at the pumps between 83.9 and 85 cents per litre.              

No other fuel prices have changed.

A "substantial decrease" in the wholesale price of gas in the past week allowed for the price drop, IRAC said in a written statement.

The next scheduled price adjustment is Feb. 15.

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