Gas, heating oil, diesel prices see another big increase

Energy prices on P.E.I. were up again overnight.

It was the regular, weekly price review from the Island Regulatory and Appeals Commission.

Prices for gas, heating oil and diesel were all up between five and 10 cents per litre.

• The minimum price at the pump for a litre of gas was up 7.4 cents to $1.83.
• The minimum price at the pump for a litre of diesel was up 9.2 cents to $1.87.
• The maximum price at the pump for a litre of heating oil was up 8.4 cents to $1.42.

The price of gas was relatively steady through the first half of the year. There were some ups and downs, but on June 30 the price per litre was just two cents higher than it was on Jan. 1.

That trend has changed in July. It started with the introduction of a new federal carbon tax and the new Clean Fuel Regulations on July 1. In all the price has risen four times this month, and is now 20.1 cents more per litre than it was a month ago.

While gas prices had been steady, prices for diesel and heating oil had been falling for much of the year after peaking in February. As with gas, that trend turned around on July 1.

The price of diesel is 28.5 cents higher than at the end of June, and the price of heating oil 40.3 cents higher. However, prices are still lower than their February peak.

The next scheduled price review from IRAC is Aug. 4.