P.E.I. gas prices jump

P.E.I. gas prices jump

Prices of fuel are up in P.E.I. with the Island Regulatory and Appeals Commission's latest adjustments.

- Gas prices will increase by 4.5 cents per litre to a minimum of $1.124.

- Diesel prices will increase by two cents per litre to a minimum of $1.150.

Prices for furnace oil, stove oil and propane are unchanged.

Charlottetown's average pump price of $1.072 over the last week has been lower than in Halifax and Moncton, where it is $1.12.8 and $1.119 respectively.

Even with the increase, prices in Charlottetown are still lower than the regional and national averages, said IRAC.

In a news release, IRAC said the unscheduled changes came as a result of a significant increase in wholesale prices. The normal time for the review would have been on the 15th of the month.

The commission also says it will continue to monitor the situation because of significant volatility in the petroleum market. 

The next scheduled price review is May 1.

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