Fuel prices jump as new carbon regulations take effect

The cost of home heating oil jumped by 17 cents per litre in Prince Edward Island on Saturday when new carbon regulations took effect.

With prices hovering around $1 per litre in the province on Friday, that’s a nearly 20 per cent increase.

The situation isn’t better in Nova Scotia.

“It's going to cost you over half your pension to heat our house now, so what are we going to do with our home?” said Bernie Larusic in Sydney. “We may have to sell it because we can't afford to live in it.”

Gas and diesel were up across the region as well, with Nova Scotia taking the biggest hit.

“When is it going to end?" said Kathy Kirkby.

"With all this pain, it better do something good,” said Steven Scholes. “I don't know if it will. It's certainly hurting at this end."

In Nova Scotia, the highest price for gas is $1.69. Meanwhile, gas in New Brunswick is selling for $1.65, and $1.64 on P.E.I.

The new price of diesel is $1.62 in N.S., $1.64 in N.B., and $1.63 on P.E.I.

In some places, stations even ran out of fuel Friday, with people rushing to fill up before the hike.

Canadian Taxpayers’ Federation reps were outside the P.E.I. legislature Saturday morning continuing their campaign against the carbon tax.

Franco Terrazzano, the CTF’s federal director, said even with the carbon rebate, this is a real increase in taxes for most Canadians.

“The carbon tax will cost the average family in P.E.I. $465 more this year than what they're getting back in rebates,” said Terrazzano. “Families can't afford an extra $465 more this year."

The Atlantic premiers launched a joint “fight the federal gas hike” campaign opposing the new Clean Fuel Standards.

They say without an offset, it's just a tax hike. They are asking Atlantic Canadians to complain directly to their Member of Parliament.

With inflation pushing up prices across the board, there’s much apprehension in the region about the move.

On P.E.I. in particular, the cost of diesel is an increased concern.

Without any rail or major container ports, everything that comes to P.E.I. has to come by truck, so by increasing the cost of fuel for those trucks, the cost of that transport goes up, and that can affect everything.