P.E.I. gas prices up 1.5 cents, 2nd increase in week

Gasoline prices on Prince Edward Island increased 1.5 cents Friday in a scheduled price adjustment. 

The increase comes after gas went up four cents a litre on April 25 in an unscheduled price hike by the Island Regulatory and Appeals Commission.

Gas prices now range from 111.4 to 112.5 cents per litre. 

Diesel has increased by 1.7 cents. The price of furnace oil remained the same at 83.7 cents. 

The prices went into affect at 12:01 a.m. Friday morning. 

Propane was the only fuel to see a decrease Friday. It dropped between 4.4 and 5 cents a litre. 

The commission says the rise in the wholesale price of gasoline and diesel has made the price adjustments necessary.

"Seasonally related supply and demand issues typically impact motor fuel pricing at this time of year," IRAC said in a news release. 

IRAC's next price adjustment is scheduled for May 15.