Unexpected hike pushes gas prices to $1

Islanders can be excused for checking the calendar.

No, it’s not the beginning or middle of the month.

But that hasn’t stopped the commission that regulates fuel prices in the province from hiking prices.

Effective today, gas prices have jumped 2.6 cents per litre. That pushes self-serve pump prices to between 99.9 and 101.1 cents per litre.

In a statement, the Island Regulatory and Appeals Commission blames “significant increases” in whole prices of all petroleum products.

Furnace and stove oil and diesel prices are all up by 3.5 cents per litre.

The maximum price for furnace oil is now 70.2 cents per litre, plus tax.

There is no change in propane prices.

“Flood related refinery production interruptions combined with increased demand have impacted market conditions as of late exerting upward pressure on wholesale pricing,” the commission said in a statement.

Prices in P.E.I. are usually updated at the beginning and middle of each month.

The next scheduled price adjustment is on Sept. 1.