PEI

Heating oil, diesel take another jump in P.E.I.

Fuel prices in P.E.I. are up for a second straight day.

Hike comes a day after increase in fuel prices

Islanders are paying 23 cents more for heating oil and 16 cents more for gasoline than they did a week ago. (Kevin Yarr/CBC)

Fuel prices are up just a day after the Island Regulatory and Appeals Commission adjusted prices by a whopping 12 cents.

Furnace oil and diesel have gone up 10 cents a litre after the commission made an unscheduled price adjustment Saturday, which is rare for P.E.I. The price of self-serve, regular unleaded gasoline also increased by two cents per litre.

Including taxes, gas prices will range from $1.73 to $1.75 per litre, and diesel will range from $1.98 to $1.99 per litre. The price for heating oil is $1.56.

That means Islanders will pay 23 cents more for heating oil and 16 cents more for gasoline than they would have a week ago.

IRAC said in its adjustment notice on Saturday that the hike is "a result of the continued rise in the market price of all petroleum products."

Crude prices have been rising during Russia's invasion of Ukraine.

In anticipation of the price hike on Friday, hundreds of Islanders went to fill up their tanks on Thursday evening.

Many Islanders took a trip to the gas station Thursday evening in anticipation of the price hikes. (CBC)

Dianne Townshend was at the pumps following Friday's price increase. She said the rising gas and heating oil costs will definitely force her to change her lifestyle.

"It affects me greatly," she said. "I'm retired, senior living on my own, and anything like this is really tough."

Harold Axworthy said he wasn't buying a full tank because of budgeting. He said the the high prices are just a fact of life.

"We got to have the gas. What are we going to do? Buy it," he said.

Islanders may be set for even higher prices at the pumps in the coming weeks, with the the federal carbon tax going up to 11 cents per litre on April 1.

At the provincial legislature on Friday, the Liberals suggested the government suspend the provincial gas tax to help alleviate the effects of rising fuel. 

The province said any change would need consultation with the federal government. Instead, it said it's committed to address rising costs by expanding social assistance payments and other such programs.

With files from Tony Davis

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