An eight-cent per litre hike in home heating oil prices will take a bite out of Prince Edward Island homeowner’s wallets just as the days grow shorter and the temperatures get colder.
Overnight, furnace and stove oil prices increased by 8.0 cents per litre. The maximum price for furnace oil is now 83.3 cents per litre, plus tax.
The Island Regulatory and Appeals Commission, in announcing the hike, said home heating oil prices have increased as a result of “the seasonal implementation of winter blending processes.”
Diesel prices also increased by 8.0 cents per litre.
The price at the pump is up this morning as well, but not as much as home heating oil.
Gas prices increased 2.5 cents per litre.
Including adjustments for taxes, pump prices at self-serve outlets will now range from 107.0 to 108.1 cents per litre.
In making the price adjustment, the commission said gas
prices continue to be impacted by pipeline and weather-related issues.
“Prince Edward Island is not alone in facing these pricing challenges as price increases for these products in both New Brunswick and Nova Scotia over the past two weeks has been in excess of 10.0 cents per litre,” the commission notes.
There was no change to propane prices.
The next scheduled price adjustment is on Nov. 1.
