Ups and downs in latest fuel price adjustment

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Gas prices are going up, diesel and home heating oil prices are going down.

Prince Edward Island drivers will be paying more at the pumps tomorrow, but the home heating oil bill will be going down.

The Island Regulatory and Appeals Commission is set to make its mid-month price adjustment.

The commission will make the new prices official on Thursday.

However, The Guardian has learned that gas prices will be increasing by 3.5 cents per litre.

That will push the price at the pumps to 123.1 to 124.1 cents per litre for regular gas and self-serve pumps.

Diesel drivers will actually see the price at the pumps drop by 3.0 cents per litre.

Home heating oil prices, including furnace and stove oil,  will also fall by 3.0 cents per litre.

The new prices will go into effect at 12:01 a.m. on Thursday, Nov. 15.

The next scheduled price adjustment is on Dec. 1.

The average price at the pumps, according to Gasbuddy.com, is 120.8 cents per litre and holding steady for gas at self-serve pumps.

 

Organizations: Island Regulatory and Appeals Commission

Geographic location: Prince Edward Island

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Recent comments

  • youottoknow
    November 15, 2012 - 10:45

    To the maritime complainers, talk to your Premiers/MLAs, they have to be the ones keeping the price up there. It helps with their deficits. Here in Alberta gas can be purchased for under $1.00 per litre and it regularly fluctuates with the price of a barrel of oil. Iknow you don't have Alberta oil down there, but your governments are the culprits. Talk to them.

    • we would
      November 15, 2012 - 21:42

      We would talk to our governemnts if they'd listen...........

  • Nova Scotia Resident
    November 15, 2012 - 07:29

    I would hope that each and every person who complains about the Island Regulatory and Appeals Commission- Petroleum division looks to what we pay at the pump in Nova Scotia before doing so. The price at the pump on P.E.I. is consistently lower than what we pay here, especially so when compared to rural Nova Scotia; the price increases as you get farther from Halifax. I firmly disapprove of the outrageous profits that the oil industry is enjoying; however, blindly attacking the commission is senseless.

  • cromwell
    November 15, 2012 - 07:06

    Who are the members of the Island Regulatory and Appeals Commission and what is their affiliation with local energy providers? Surely Islanders have a right to this information. Does anyone know how this group computes the price of gas/diesel/heating oil as a function of the price of oil?

  • jeremy campbell
    November 15, 2012 - 01:34

    Just get it over with and make all petroleum products $2 a litre across the board in PEI. At least with a consistent price we can budget appropriately. This up down up down business is for the birds.

    • huh
      November 15, 2012 - 11:23

      You don't need the price to actually be $2 a litre in order to budget $2 a litre.

  • Susan W.
    November 14, 2012 - 22:36

    These people don't have a CLU what they are doing.....The world price is dropping almost daily and these idiots are increasing the price of gas.

  • Tom Paine
    November 14, 2012 - 18:20

    Of course home heating will be going down. I received my first fill up since May today. No way would they come after the price decrease.

  • WERESOSPINELESS
    November 14, 2012 - 18:16

    Electric cars are getting slowly but steadily more practical. Another decade should see the consumer wielding the power regarding "price at the pumps". I just hope we all remember the gouging that went on when oil companies start advertising deals so we can finally tell them no thanks. These are the days when oil companies should be preparing for the future by bowing to the consumer and offering any cuts to profit they can. That won't happen, of course, but when the consumer starts driving fully electric cars, the higher electricity costs will sting a lot less knowing the consumer gets his revenge on big oil. There are many practical ways to generate electricity - there's only one way to put gas in your car.

  • what a place
    November 14, 2012 - 18:12

    Wow unbelievable once again. Price per barrel has been steady for what two months now. The only reason furnace oil went down was because they will jack it up by december. These people are a disgrace and this province is being driven into the ground by theses greedy pieces of shit. Yes I am angry. Furnace oil is approx thirty cents higher than what it should be.Guess the govt needs the monet somewhere.

  • Fed Up
    November 14, 2012 - 18:06

    Do these people actually KNOW what they're doing?!!? Getting big bucks to put gas UP....DOWN....UP.....DOWN. Easy to see they don't have to drive very far to work......put them on the road like Ghiz did to 90% of provincial gov't employees. Just think of the cost driving to Montague, Summerside, Souris and - yes - believe it or not - TIGNISH - every single day - 5days a week - $30.00 PER DAY on gas!!! And it's going up again!!! Ghiz sends people all over the place - why? Check the provincial tax % on the pump next time you fill up!!!!

  • Sylvia
    November 14, 2012 - 17:54

    Round and round and round we go, and where we'll end up nobody knows. This is like playing musical chairs.

  • city resident
    November 14, 2012 - 17:34

    I wonder how many oil trucks will be working all night to fill as many takes while the price is high as tomorrow they will be losing 3 cents a liter on each fill up ??????????????????????????

  • Sylvia MacPhail
    November 14, 2012 - 17:23

    what about propane prices??? Up or down??