Gas prices up 5 cents across P.E.I.

Gas prices have increased five cents overnight in an overnight unscheduled pricing decision by the Island Regulatory and Appeals Commission.

Furnace, stove oil and diesel increased by 3.1 cents.

Gas prices have increased by 5 cents overnight. (CBC)

Gas prices increased five cents Friday morning after an unscheduled pricing decision by the Island Regulatory and Appeals Commission.

The price for self serve regular will range from 90.7 cents to 91.9 cents per litre. 

Furnace and stove oil prices have increased by 3.1 cents per litre. The price will be 72.7 cents per litre. 

The price of diesel has also increased by the same amount. 

There is no change in the price of propane.  

IRAC said the unscheduled price change was required due to a "dramatic increase in the wholesale price of gasoline, furnace oil and diesel."

"Over the past month the wholesale trading price for gasoline has increased by 55 per cent while furnace oil has increased by 26 per cent," IRAC said in its release. 

The next scheduled price adjustment will be on March 15.

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