April 9, 2019 | by: Chris Pride

PEI gas prices up in unscheduled adjustment

Price Adjustments

The Island Regulatory and Appeals Commission approved the following petroleum prices in an unscheduled price adjustment, effective 12:01 a.m., Tuesday, April 9, 2019:

Gasoline prices will increase by 3.1 cents per litre (cp);

There will be no change in furnace, stove oil, diesel or propane prices at this time.

New Price

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 123.4 cpl to 124.5 cpl.

The price of gasoline on the New York Mercantile Exchange has increased substantially in the past week. Rising crude oil prices, growing demand, and increased production costs have all contributed to this increase. Gas prices are up across the country as well.

The Commission’s next scheduled price adjustment will be on April 15, 2019.

Breakdown

Market Comparison

PEI – 123.4 – 124.5 cpl

Halifax – 125.4 cpl

Moncton – 126.7 cpl,

Montreal – 131.7 cpl,

Toronto – 124.5 cpl

Calgary – 116.9 cpl

Vancouver – 162.7 cpl

National Average – 130.4 cpl

** gas prices taken from IRAC press release and GasBuddy.com