Fuel costs increase on P.E.I. following unscheduled adjustment by IRAC | CBC News
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Prince Edward Islanders woke up to higher gas prices Sunday after an unscheduled price adjustment by the Island Regulatory Appeals Commission.
The price of regular gas went up by 9.5 cents per litre, while premium gasoline prices increased by 8.5 cents per litre. That means prices at the pump will range from $1.803 to $1.911 per litre.
The cost of diesel is now a minimum of $2.322 per litre, a jump of 11.5 cents. Heating oil rose by 10.5 cents, bringing it to $1.786 per litre.
“Global events have resulted in market volatility, which sometimes requires unscheduled pricing adjustments,” IRAC said in a news release on Saturday, which announced that fuel prices would change as of 12:01 a.m. AT Sunday.
Prices also increased in New Brunswick and Nova Scotia this weekend.
Fuel prices have fluctuated in recent weeks amid the ongoing war in the Middle East.
The next scheduled pricing adjustment is March 17.