Diesel, heating oil up as IRAC makes second unscheduled hike this week

Furnace and diesel are up by about 11cents on Thursday following another unscheduled price adjustment from the Island Regulatory and Appeals Commission.

The price for diesel rose by 11.5 cents to between $2.11 and $2.12 per litre. The maximum price for heating oil is up 10.5 cents to $1.68.

This is the fifth unscheduled price change this month, and the second this week.

Fuel prices have been in record territory as Russia's invasion of Ukraine continues to drive up crude prices.

Theyhad begun falling last week amid speculation OPEC could hike production.

The new hikeputs diesel and heating oil prices in P.E.I. a couple of cents above the previous peak on March 8.

The price for regular gasoline remain unchanged since Tuesday at between $1.72 and $.1.73.