IRAC hikes gas prices off schedule, blames Hurricane Harvey

Gas prices took a leap on Saturday in an unexpected pricing adjustment from the IslandRegulatory and Appeals Commission.

IRACbumped the price of gas up fourcents per litre on P.E.I. becauseof "significant increases in the wholesale price of gasoline" since the last adjustment on Oct. 15, according to a news release.

IRAC saidHurricane Harvey is to blame for the price hike as the ripples from the storm continue to impact in the industry and "the wholesale pricing of petroleum products."

Includingtaxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 111.4 cents per litreto 112.6 cents per litre.

Pump prices for diesel will continue to range from 116.5 cents per litreto 117.6 cents per litre.

The commissions next scheduled adjustment is Nov. 1.

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