P.E.I. gas prices up in unscheduled change

P.E.I.'s Island Regulatory and Appeals Commission put prices up on gasoline, heating oil and diesel overnight Thursday.

Prices have been falling in recent months. In a news release IRAC said there have been significant increases in wholesale prices since the new year resulting in higher rack prices, which is the prices before taxes and wholesale and retail markups.

• The minimum price for regular, self-serve gasoline is up 3.4 cents per litre to $0.991.
• Heating oil is up 4.2 cent per litre to $0.886.
• The minimum price for diesel is up 5.8 cents per litre to $1.205.

Propane prices are unchanged.

This is the first price change following a report from provincial Auditor General Jane MacAdam criticizing a lack of transparency in decisions regarding petroleum product prices by IRAC. In this release, the commission included a breakdown of the components of the gas price.

The next scheduled price change is Jan. 15.

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