N.L. drivers see slight break at pumps following Tuesday's 10 cent increase

·2 min read
The price of gas is down 1.7 cents per litre Thursday. (Ken Linton/CBC - image credit)
The price of gas is down 1.7 cents per litre Thursday. (Ken Linton/CBC - image credit)
Ken Linton/CBC
Ken Linton/CBC

Gas prices are down by almost two cents per litre following an unexpected spike earlier this week.

The Public Utilities Board lowered the maximum price of gas by 1.7 cents per litre Thursday morning, putting the maximum price for a litre of unleaded self-serve at as much as $1.932 per litre on the Avalon Peninsula.

Maximum prices across the province were set from $1.95 per litre in central Newfoundland, $1.97 on the Baie Verte Peninsula, almost $1.94 per litre in Deer Lake, Corner Brook and the surrounding area, $1.97 on the northern peninsula and almost $2 per litre in western Labrador.

Ramea continues to see the highest price per litre at $2.056 per litre, while prices in central Labrador remain at $1.596 thanks to a price freeze.

The shift in price reflects a change in the average benchmark price for gasoline, which dropped by $1.44 cents per litre CAD on the New York Mercantile Market, according to the PUB. The increase resulted in a 1.7 cents per litre drop when accounting for taxation and rounding, the release said.

The change comes two days after prices rose 10.5 cents per litre across the province.

The price of diesel increased by 2.8 cents per litre in Newfoundland, while customers in Labrador see a 2.5 cents per litre decrease in price. Diesel prices currently range from $1.78 to $3.07 per litre in Labrador, while prices on the island sit between $2.28 and $2.39 per litre.

Furnace oil dropped by over 2.5 cents per litre, putting prices between $1.66 and $1.82 per litre across the province.

Stove oil sees a rise of 2.05 cents per litre in Newfoundland, and a decrease of 2.15 cents per litre in Labrador.

Propane also dropped 1.6 cents per litre.

The following chart shows how gas prices have changed recently at Newfoundland and Labrador retailers, as reported by users of the GasBuddy.com website.

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