Fears of a massive spike in gas prices across Prince Edward Island, like what was seen in other parts of Canada, is not expected to materialize on May 1.
However, gas prices will be going up, The Guardian has learned.
Gas, diesel and home heating oil will all increase by two cents per litre. That will push pump prices up to 141.9 to 143.1 cents per litre.
The Island Regulatory and Appeals Commission, which regulates gas prices in Prince Edward Island, will make the new prices official on Thursday.
Gasbuddy.com, a website that tracks gas prices in Canada, said the average pump price is now 137.6 cents per litre and holding steady.
Last week, gas prices spiked across the country.
Toronto, Fredericton and Saint John all broke the 140.0 cents per litre barrier last week with Montreal gas prices hitting 151.5 cents per litre.
The next scheduled price adjustment on P.E.I. will be on May 15.