PEI

Petroleum product prices creeping up towards pre-pandemic levels

Prices for gasoline, diesel and heating oil were all up on P.E.I. on Friday, in the regular price review from the Island Regulatory and Appeals Commission.

COVID-19 pandemic has brought volatile prices

Gas prices fell by more than a third in the first weeks of the pandemic. (CBC)

Prices for gasoline, diesel and heating oil are all up on P.E.I. on Friday, in the regular weekly price review from the Island Regulatory and Appeals Commission.

The price for self-serve, regular gasoline is up five cents a litre to $0.975, diesel was up 5.3 cents to $0.967, and heating oil up 4.9 cents to $0.656.

The mid-June prices are significantly higher than the lows of May 1, but still a lot lower than they were before the pandemic started.

The highest prices of the year were on New Year's Day, below.

  • Gas: $1.159
  • Diesel: $1.341
  • Heating oil: $1.047

By the end of April, prices for diesel and gas had reached a low — they were down more than a third, and the price of heating oil had been cut in half.

Prices for all three began to climb back up May 8.

The price for diesel is now about 25 per cent higher, and for gas and heating oil about 30 per cent higher, than those pandemic lows.

More from CBC P.E.I.

ABOUT THE AUTHOR

Kevin Yarr is the early morning web journalist at CBC P.E.I. You can reach him at kevin.yarr@cbc.ca.

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