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P.E.I. gas prices leap back up

Prices on P.E.I. for gas, heating oil and diesel all took a big jump upwards Friday.

Prices still at historic lows

Kevin Yarr · CBC News ·
A hand reaches for a gas pump.
Gas prices started falling sharply in mid-March. (CBC)

Prices on P.E.I. for gas, heating oil and diesel all took a big jump upwards Friday.

The changes came with the regular weekly price review from the Island Regulatory and Appeals Commission.

  • The price of a litre of regular, self-serve gasoline is up 7.2 cents to a minimum of $0.80.
  • Diesel is up 6.3 cents a litre to a minimum of $0.84.
  • Heating oil is up 4.0 cents a litre to a maximum of $0.55.

Propane prices are also up for some retailers, between 1.7 and 2.5 cents per litre. Some retailers did not change their prices.

Prices for petroleum products have been at historic lows, driven downward by a lack of demand in the pandemic, and by a crude oil price war between Saudi Arabia and Russia.

These have been the lowest prices for gas since the recession of 2008-09. In January 2009 the price of gas fell to $0.67 per litre.

More from CBC P.E.I.

ABOUT THE AUTHOR

Kevin Yarr

Web journalist

Kevin Yarr is the early morning web journalist at CBC P.E.I. Kevin has a specialty in data journalism, and how statistics relate to the changing lives of Islanders. He has a BSc and a BA from Dalhousie University, and studied journalism at Holland College in Charlottetown. You can reach him at [email protected].

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