PUB drops gas prices over 8 cents per litre in surprise adjustment

Gasoline prices took a dive on Tuesday, as the PUB made an unscheduled change to fuel prices across most parts of the province. (Kirk Pennell/CBC - image credit)
Gasoline prices took a dive on Tuesday, as the PUB made an unscheduled change to fuel prices across most parts of the province. (Kirk Pennell/CBC - image credit)

Newfoundland and Labrador's Public Utilities Board has dropped the price of gasoline by 8.8 cents per litre.

The regulator says it made the adjustment due to the change in the average benchmark price since the last adjustment five days ago.

The change, which took effect after midnight on Tuesday, puts the price of gasoline at $1.846 per litre on the Avalon Peninsula, $185.4 in Corner Brook, $2.013 in Grey River, $2.088 in southern Labrador, and $196.1 on the north coast of Labrador.

All other fuels remain the same.

"While the board's next regularly scheduled price adjustment is on Thursday, Sept. 28, 2023, the board continues to monitor changes in market prices for motor fuels and heating fuels and will adjust maximum prices outside the scheduled adjustment as appropriate," reads a statement from the PUB.

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