It is going to cost more – a lot more – to take a road trip this weekend or to heat a home.
The Guardian has learned the Island Regulatory and Appeals Commission is set to hike prices for gas, diesel and home heating oil.
Gas prices will increase by 4 cents per litre effective 12:01 a.m. on Saturday, Feb. 1, 2014. That will push pump prices to 135.5 to 136.7 cents per litre.
Diesel prices will go up by 6 cents per litre.
Home heating oil, including furnace and stove oil, will also increase by 6.0 cents per litre.
The commission will announce the new prices on Saturday.
Gasbuddy.com, a website that tracks gas prices in North America, says the average pump price in Canada is now 125.8 cents per litre – that’s 10 cents a litre less than Prince Edward Island.
However, gasbuddy.com does note that gas prices are rising across the country.
The Island Regulatory and Appeals Commission’s next scheduled prices adjustment is on Feb. 15.