The cost of gas rose again in the PEI on Friday morning.
The minimum price at the pump for a liter of self-service gasoline rose 3.9 cents to $ 2.09. Diesel and diesel prices did not vary.
This was the island’s regularly scheduled price review by the island’s Regulatory and Appeals Commission.
The price of gas is slightly below the all-time high of $ 2.10, set earlier this month.
Oil prices have been rising since Russia’s invasion of Ukraine in late February. But the reduction in refining capacity resulting from the pandemic, which has allowed refineries to increase profit margins, is also an important factor.
Record prices for diesel and heating oil were also set in May. The price of diesel rose to $ 2.53 and the heating oil was $ 2.14. Both have experienced significant declines since then, with diesel set at $ 2.13 and heating diesel at $ 1.67.
Gas has not experienced the same large fluctuations, but has been on a mostly steady rise throughout the month.