P.E.I. gas, heating oil, diesel prices jump up in unscheduled change
Prices steadily rising on P.E.I. since the start of the year
P.E.I.'s Island Regulatory and Appeals Commission announced an increase in the prices of gas, heating oil, and diesel overnight, one day ahead of the regular weekly price review.
The minimum price at the pump for regular gasoline rose by 4.5 cents per litre to $1.75.
The minimum price of diesel at the pump increased by 9 cents per litre to $2.03.
The maximum price for heating oil went up by 7 cents per litre to $1.42.
The prices for all three have been rising since the start of the year.
Compared to Jan. 3, the date of the first regular weekly price review by the commission in 2025, today's minimum price at the pump for regular gas has increased by about 11 cents per litre. The minimum price for diesel has risen by 15 cents per litre, and heating oil has gone up by about 12 cents per litre.
The regulator stated in a release that unscheduled adjustments are sometimes necessary to respond to changing market conditions and to ensure that petroleum prices are fair for both consumers as well as wholesalers and retailers.
"As global markets continue to experience fluctuations in the price of petroleum products, the Commission must respond with appropriate pricing adjustments that maintain the balance of ensuring fairness for Islanders and consistency of supply," the statement read.
The next regular weekly review of prices is scheduled for Friday.