Diesel, stove oil prices jump more than 30 cents each in western Labrador, Churchill Falls
Price of diesel passes $3 per litre
The prices of diesel and stove oil have each skyrocketed by more than 30 cents per litre Tuesday morning in two regions of Labrador.
The change in prices, announced by the Public Utilities Board, applies only in western Labrador and Churchill Falls. The price of diesel is up just under 39 cents per litre, putting the new price of a litre of diesel at $3.076 per litre in western Labrador and $3.101 in Churchill Falls.
The price of stove oil has also jumped by 33.8 cents per litre, putting prices at just more than $2.36 per litre in western Labrador and $2.381 per litre in Churchill Falls.
The dramatic jump is due to an "extraordinary" increase in the benchmark price for ultra low sulphur kerosene, which the PUB uses to calculate prices for the two fuels in Labrador, according to a media release from the regulatory board.
No other changes were made for fuels in other regions of the province. Price adjustments will remain suspended in other Labrador pricing zones thanks to a seasonal price freeze.
The next adjustment of fuel prices, including gasoline, is scheduled for Thursday but changes could come sooner due to fluctuations in global markets.