Gas prices drop by largest amount since mid-October

Gas prices dropped across some parts of Newfoundland and Labrador by as much as 4.8 cents per litre Thursday, marking the largest price decrease for fuel in nearly five months.

Thursday's price adjustment by the Public Utilities Board accounted for zone differential increase across Newfoundland's different pricing zones, meaning the price of gasoline dropped by a range of 3.7 to 4.8 cents per litre depending on location. A similar decrease happened last week.

The change means drivers on the Avalon Peninsula will pay a maximum price of $1.65 per litre. Prices vary across the rest of the island, but range between $1.66 and $1.81 per litre.

While much of Labrador remains under a price freeze, gasoline prices in Labrador West and Churchill Falls lowered by 4.8 cents per litre. Maximum fuel prices now range between $1.73 and $2.16 per litre in the region.

Thursday's decrease of 4.8 cents per litre on the Avalon Peninsula marks the largest fuel price decrease since Oct. 10.

All other fuel types also decreased in price.

The price of diesel dropped in a range between 3.5 and 4.7 cents per litre. Prices now range between $1.95 and $2.08 per litre in Newfoundland and between $1.82 and $2.25 per litre in Labrador.

Furnace oil decreased between 3.1 and 4.1 cents per litre, meaning customers in Newfoundland are paying maximum prices between $1.28 and $1.48 per litre depending on their location.

Stove oil decreased in Labrador West and Churchill Falls, putting maximum prices for the fuel between $1.20 and $1.69 per litre in Labrador.

The price of propane decreased by 1.4 cents per litre. That means prices for the fuel now range between $1.17 and $1.32 per litre in Newfoundland and between $1 and $1.35 per litre in Labrador.

This week also marks the last week fuel prices will be adjusted on Thursdays, as the PUB is moving adjustments to Fridays beginning next week.

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