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Gasoline and Diesel Prices Rise

Gasoline and diesel prices are up. The Utility and Review Board set its weekly prices overnight. Gasoline rose 2.8 cents a litre in the eastern mainland and 2.9 cents on Cape Breton. The minimum price for a litre of regular self serve unleaded is now $1.29.5 in the eastern mainland and $1.30.4 on Cape Breton.

Diesel is up by 2.6 cents a litre. The minimum price for a litre of diesel is $1.19.5 in the eastern mainland and $1.20.3 on Cape Breton.

The increases are not a surprise, as the UARB announced this week that it had approved a price hike to make up for a drop in sales during the COVID-19 pandemic. The temporary markup comes on top of a permanent increase in the retail margin on gas prices approved earlier this year. Federal subsidies had also been provided to some gas stations due to a revnue shortfall

A spokesman for the board indicated the price increase will help ensure stations stay in business as pandemic lockdowns and travel restrictions have drastically curbed demand for fuel across the country.