P.E.I. gas price up 15.9% this year

·1 min read
This is the highest price for gas since July 2019. (Mitch Cormier/CBC - image credit)
This is the highest price for gas since July 2019. (Mitch Cormier/CBC - image credit)

The minimum price of a litre of regular, self-serve gasoline rose 3.5 cents overnight, a continuation of a steady increase that goes back to the end of last year.

The price was set at $1.21, the highest since July of 2019.

Gas prices crashed during the early months of the pandemic, but recovered to sit around $1 a litre at the pump for most of the last half of the year. The current upward trend started in December. On Jan. 1 the price was $1.05.

Diesel and furnace oil prices have also been increasing.

The minimum pump price of diesel was up 2.3 cents to $1.27. Furnace oil was up 2.1 cents to a maximum of $0.96.

For the year, diesel prices are up 11.9 per cent and furnace oil 15.4 per cent.

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