The latest price hike at the pumps may have Islanders checking their calendars.
No, it’s not the end of the month.
But that didn’t stop the Island Regulatory and Appeals Commission from increasing gas prices by 3.9 cents per litre in an unscheduled price adjustment overnight.
Including adjustments for taxes, pump prices for regular gas at self-serve outlets will now range from 119.4 to 120.5 cents per litre.
Diesel prices also increased by 2.9 cents per litre. Diesel prices will now range from 129.5 to 130.6 cents per litre.
There were no changes in the prices of furnace oil, stove oil or propane.
The commission says “significant increases” in wholesale prices for gasoline prompted the unscheduled price increase.
“An abnormally high demand for gasoline for this time of year coupled with a reduction in inventory has contributed to this situation,” the commission said in a statement issued overnight.
Prices have also increased in places like Ottawa, where gas is selling for 127.0 cents per litre; Montreal, where gas prices are 134.9 cents per litre; and Vancouver, where prices are now a whopping 154.6 cents per litre.
The commission’s next scheduled price adjustment is April 1.
