Furnace oil climbs by nearly 20 cents per litre overnight in unscheduled price change
Furnace oil prices increased significantly across Newfoundland and Labrador overnight.
In an unscheduled price adjustment by the Public Utilities Board, the cost of home heating oil has risen by nearly 20 cents per litre.
In a media release the PUB said the rise in price is "due to recent commodity market developments."
Customers on the Avalon Peninsula are now paying between $1.68 and $1.72 per litre. On the Burin Peninsula and in central Newfoundland prices hit $1.72. In the Springdale area prices are now $1.73. On the west coast of the island, prices are between $1.69 and $1.72 while on the Northern Peninsula the cost per litre on furnace oil is between $1.70 and $1.75.
"The increases noted above for furnace oil heating fuel are the result of a significant spike in the benchmark price for New York Harbour Jet," the PUB said.
"New York Harbour Jet makes up 75 per cent of the winter blended benchmark price for furnace oil heating fuel."
Furnace oil also increased by 1.8 cents per litre on Thursday.
