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Gas prices take unexpected 5-cent jump in P.E.I. April 27

P.E.I. gas prices.
P.E.I. gas prices. - SaltWire Network

The price of gas in P.E.I. has taken yet another unexpected hike overnight, this time increasing by five cents per litre.

Diesel and furnace and stove oil prices also rose in the unscheduled pricing increase.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 134.6 to 135.7 cpl.

Diesel prices increased by 1.5 cpl and now range from 136.2 to 137.3 cpl.

The maximum price for furnace oil will now be 105.5 cpl, including HST of five per cent, after increasing by 3.0 cpl overnight.

The Island Regulatory and Appeals Commission says the market price of oil has been rising steadily over the past five months. There has also been an increased demand as well as reduced inventory levels of all petroleum products. The price of oil has risen 43 per cent since December while demand for gasoline is up almost six per cent above last year’s levels. Inventory levels for gasoline are now approximately four per cent below five-year average levels.

As of April 26, pump prices in the region show Moncton at 135.7 cpl, Halifax at 133.7, Montreal at 142.6, and the national average at 138.3 cpl.

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