PEI

P.E.I. gas price up 15.9% this year

The minimum price of a litre of regular, self-serve gasoline rose 3.5 cents overnight, a continuation of a steady increase that goes back to the end of last year.

Gas, diesel and furnace oil prices all on the rise

This is the highest price for gas since July 2019. (Mitch Cormier/CBC)

The minimum price of a litre of regular, self-serve gasoline rose 3.5 cents overnight, a continuation of a steady increase that goes back to the end of last year.

The price was set at $1.21, the highest since July of 2019.

Gas prices crashed during the early months of the pandemic, but recovered to sit around $1 a litre at the pump for most of the last half of the year. The current upward trend started in December. On Jan. 1 the price was $1.05.

Diesel and furnace oil prices have also been increasing.

The minimum pump price of diesel was up 2.3 cents to $1.27. Furnace oil was up 2.1 cents to a maximum of $0.96.

For the year, diesel prices are up 11.9 per cent and furnace oil 15.4 per cent.

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