Price of furnace oil jumps 4 cents per litre on P.E.I.
IRAC says increase in market price made unscheduled hike necessary
As the cold weather sets in, it just got a little more expensive for some Islanders to heat their homes.
The price of furnace oil, stove oil and diesel increase by four cents per litre on Saturday.
The Island Regulatory and Appeals Commission approved the unscheduled price increase. Price adjustments are normally scheduled on the first day of each month, and the middle of the month.
The maximum price for furnace oil will now be 102.6 cpl, plus tax.
There will be no change in the price of gasoline or propane at this time.
Including adjustments for taxes, pump prices for diesel at self-serve outlets will now range from 143.6 to 144.8 cents per litre.
IRAC said significant increases in the market prices, boosted by seasonally related increased consumption for both furnace oil and diesel, necessitated the price increase.
The commission's next scheduled price adjustment will be on Oct. 15.