P.E.I. gas price up and down this week
After weeks of dramatic drops the price of gas on P.E.I. mostly levelled off this week, but it was both up and down.
On Wednesday, the early-year discount on the carbon levy expired and prices rose from 4.42 cents per litre to 6.63 cents per litre. With the addition of the HST, the price of a litre of self-serve, regular gasoline went up from $0.711 to $0.736.
Islanders got most of that back from a drop in the base price on Friday due to the regular price review from the Island Regulatory and Appeals Commission.
The price of a litre of self-serve, regular gasoline fell to $0.719.
That price was $1.155 on Feb. 21. Prices crashed due to a drop in demand in the COVID-19 pandemic and a crude oil price war between Saudi Arabia and Russia.
IRAC said these are the lowest prices for gas since the recession of 2008-09. On Jan. 1, 2009 the price of gas was $0.67 per litre.
Diesel also saw prices go up and down this week with the carbon levy.
While the base price fell Friday, the pump price is still marginally higher than it was last week. It's up 0.4 cents to $0.963 per litre for self-serve.
Heating oil prices do not include a carbon levy. The maximum price fell 2.4 cents per litre Friday to a maximum of $0.673.
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