Gas prices plummet almost 6 cents for 2nd straight week

Gas prices in Newfoundland and Labrador have dropped close to another six cents as of Thursday morning for the second consecutive week.

The maximum price of a litre of regular gas on the Avalon Peninsula is $1.27. In central Newfoundland it's $1.30, slightly lower at $1.28 in Corner Brook. The cost remains the highest in southern Labrador at $1.44.

Motorists buying diesel in Newfoundland will pay a cent more per litre compared to Wednesday, while the price in Labrador has dropped four cents.

Furnace and stove oil prices have increased almost a penny, while there is no change in the cost of propane.

Back to pre-Harvey levels

This week's decrease means gas prices are just about a cent off where they were before Hurricane Harvey hit the U.S., affecting production at several refineries and sending gas prices in the province soaring 13 cents on Sept 7.

At the time, the Public Utilities Board, which sets the fuel prices, acknowledged that the double-digit increase was "beyond that typically experienced in a weekly price adjustment."

It said the increases were due "in part to extraordinary commodity market developments" which had affected market prices.