More pain at pumps
An abnormally high demand for gas is being blamed for the latest unscheduled hike in prices overnight Friday. The Island Regulatory and Appeals Commission approved a 4.5-cent-per-litre unscheduled hike that went into effect at 12:01 a.m. Nov. 11. That has pushed gas prices to 118.9 to 120.1 cents per litre.
The situation isn’t much better for home heating oil. Furnace and stove oil prices increased by 2.5 cents per litre.
The maximum price for furnace oil is now 87.2 cents per litre, plus tax.
Diesel prices also increased by 2.5 cents per litre overnight.
There was no change in the price of propane.
“An abnormally high demand for gasoline for this time of year coupled with seasonally related increased consumption for both furnace oil and diesel have contributed to this situation,” the commission stated in a news release. The commission’s next scheduled price adjustment is on Nov. 15.