P.E.I. gas prices highest in 7 years

The price of gas rose again on P.E.I. overnight, in the regular weekly price review from the Island Regulatory and Appeals Commission.

The price held steady last week, but the minimum price for a litre of self-serve regular gas was up 3.6 cents Friday morning, to $1.395.

That's the highest since May 1, 2014, when the minimum price was $1.419.

The price had been running around $1.30 since April, but began rising sharply again this month. Higher demand for gas as economies reopen at the tail end of the pandemic are to blame, says IRAC.

Prices also rose for diesel and heating oil, with some significant increases for propane as well.

The minimum price for self-serve diesel was up 1.3 cents to $1.355.

The maximum price for heating oil rose 1.6 cents to $1.031.

Propane prices increased 3.9 cents per litre for Irving and by 3.2 cents for Superior, Island Petroleum, Kenmac, and Noonan Petroleum.

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