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P.E.I. gas prices up six cents March 15

P.E.I. gas prices. (File image)
P.E.I. gas prices. - File image

Beware the Ides of March when it comes to gas prices across the province. 

The Island Regulatory and Appeals Commission increased the price of both gasoline and furnace oil just after midnight Friday.

The cost of gas went up six cents per litre (cpl), meaning pump prices for regular unleaded gasoline at self-serve outlets will now range from 114.8 cpl to 115.9 cpl.

Pump prices for self-serve diesel did not change and will continue to range from 127.4 cpl to 128.6 cpl.

Furnace and stove oil prices also went up by 1 cpl. The maximum price for furnace oil will now be 99.8 cpl, including HST of five per cent.

The commission said the wholesale price of gas has been rising steadily on the New York Mercantile Exchange over the past two weeks due to strong demand and reduced inventories. As a result, gas prices are up all across Canada. As of March 14, pump prices in Moncton were 116 cpl, Montreal is 125.8, Toronto is 115 cpl and the national average is 121.6 cpl.

Also Friday, propane prices decreased by 1.1 cpl for Irving Energy Distribution and Marketing, by 0.9 cpl for Superior Propane and by 1.4 cpl for Kenmac Energy Inc. Maximum before tax propane prices will now range from 78.9 cpl to 80.4 cpl.

IRAC’s next scheduled price adjustment is April 1.

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