Furnace oil, diesel prices take big jumps on P.E.I.
The value of each furnace oil and diesel took massive jumps on P.E.I. Tuesday.
In an unscheduled change, the worth of furnace oil rose 22.5 cents per litre, or about 11 per cent. The value of diesel elevated by 18.8 cents per litre, about seven per cent.
The utmost worth for furnace oil is now $2.20 per litre. Diesel costs will vary from $2.75 to $2.76 per litre.
Island Regulatory and Appeals Fee’s has mentioned it’s regular for heating oil costs to go up with increased demand within the fall, and this yr elevated demand in Europe and decreased manufacturing by OPEC led to a sharper improve.
The value of petroleum merchandise is predicated on a number of elements, together with time of yr, provide and demand, pure disasters, excessive climate and disruption in provide attributable to civil unrest and warfare, IRAC has mentioned.
Fuel on the pumps was unaffected, with costs round $1.95 a litre.
IRAC’s subsequent scheduled worth announcement is Friday.
