YOUR FRIENDS' ACTIVITY

    Gas prices take 6.7-cent leap

    A recent surge in oil prices led Thursday to a big jump in retail gas prices across Newfoundland and Labrador.

    The Public Utilities Board allowed retailers to charge as much as 6.7 cents per litre more for all grades of gasoline. Costs vary depending on the grade of gasoline as well as different pricing zones within the province.

    Prices are cheapest on the Avalon Peninsula, where a litre of self-serve unleaded gas can now sell for no more than $1.444. Some retailers, though, charge substantially less.

    The setting halts a slide in prices over recent weeks, and comes on the heels of a rally in the global oil market.

    It returns prices to approximately where they were three weeks ago.

    The PUB also lifted the ceiling on diesel prices, with increases of as much as 4.8 cents per litre.

    The cost of heating a home also jumped Thursday. The PUB lifted maximum prices on furnace oil, for instance, by 2.52 cents per litre, while stove oil is up 1.54 cents per litre.

    The cost of propane did not change.

    The chart below shows how average gas prices in Newfoundland and Labrador have changed over the last 12 months, compared to both changes in the national average for gas prices and the global price of oil.

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