P.E.I. gas price hits another record; heating oil, diesel also up
CBC
The price of gas rose for the third Friday in a row and is at a new record high. Prices for diesel and heating oil were up for the second time this week.
This was the regular weekly review from the Island Regulatory and Appeals Commission.
The minimum price at the pump for a litre of regular gasoline is up 5.7 cents to $2.18. Last week's price was also a record high.
The pump price of diesel was up the same amount, 5.7 cents, to $2.28. The maximum price for heating oil rose a penny to $1.74. Friday's increase came in addition to an unscheduled adjustment on Tuesday.
Diesel and heating oil prices are still lower than records set at the end of April.
IRAC has added a page to its web site to explain why gas prices are so high.
It notes the Russian invasion of Ukraine has disrupted the supply of oil from Russia. It also references an increase in the carbon levy, which added five cents to the price of gas and seven to the price of diesel.
Analysts have also laid some of the blame on the pandemic.
Many refineries shut down with low demand during the pandemic, and refining capacity has remained low as demand increased. That high demand and low supply has allowed the refineries that are operating to increase their profit margins.
P.E.I.'s Public Schools Branch is looking for 50 substitute bus drivers, and it'll be recruiting at three job fairs on Saturday, June 8. The job fairs are located at the Atlantic Superstore in Montague, Royalty Crossing in Charlottetown, and the bus parking lot of Three Oaks Senior High in Summerside. All three run from 9 a.m. until noon. Dave Gillis, the director of transportation and risk management for the Public Schools Branch, said the number of substitute drivers they're hiring isn't unusual. "We are always looking for more. Our drivers tend to have an older demographic," he said.