Gas, oil prices continue to slide.

The price for gas and heating oil has dropped on P.E.I. for the fourth week in a row.

As of 12:01 a.m. Monday the price of gas fell 3.0 cents per litre. Heating oil was down 3.8 cents a litre and diesel by 2.0 cents. Propane was unchanged.

A continuing global economic slowdown is the main reason for the falling prices, said IRAC in a news release. Relatively mild weather is also lowering the demand for heating oil.

This was a scheduled petroleum product price review from IRAC, which normally looks at prices at the beginning and middle of the month, but falling oil prices have prompted weekly changes since Nov. 15.

The next scheduled price review is Jan. 1.