Gas prices rise 5 cents overnight

The price of gas and diesel on P.E.I. is up five cents a litre this morning in an unscheduled changethat IRAC warned was possible when it set prices at the beginning of the month.

The Island Regulatory and Appeals Commission, which normally determines prices on the 1st and 15th of each month,said in a release that the minimum pump price for regular unleaded gasoline at self-serve outlets is 108.7cents.

Diesel fuel is 116.2 cents a litre.

Today's change is being blamed on"significant increases" in the wholesale prices of gas and diesel.

P.E.I. 'not alone'

"Prince Edward Island is not alone in facing such increases in fuel prices," IRAC's statement said. "Indeed, prices this past week have risen dramatically all across the country with national average gasoline pricing now approaching 108.0 [cents per litre], up approximately 5.0 cpl from the first of December.

"Regionally, pump prices in New Brunswick, having increased yesterday by 4.7 cpl, can now be found in excess of 111.0 cpl."

There's no change in furnace oil, stove oilor propane prices this morning.

The next scheduled price review is Dec. 15.

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