Gas, diesel, furnace oil prices in N.L. dip again
Regular gas dropped by about 14 cents per litre in the last 24 hours
In another unexpected downward shift, the Public Utilities Board has once again stepped in to lower the cost of fuel across Newfoundland and Labrador.
Gasoline dropped by another 9.6 cents per litre Friday, after being lowered by four cents on Thursday in a regularly scheduled adjustment.
Diesel decreased by 7.4 cents per litre, furnace heating oil fell by 7.76 cents per litre, and stove heating oil dropped by 7.32 cents per litre on the island and 6.07 cents in Labrador. Propane heating had no price adjustment.
"Since the board last adjusted maximum prices on Thursday, March 17, 2022, there has been a significant downward shift in the benchmarks used by the board to set maximum prices of regulated petroleum products," reads a media release issued by the PUB on Thursday night.
"The resulting downward shift in the board's average benchmark prices is extraordinary, and the board has determined an adjustment of maximum prices for regulated petroleum products is warranted at this time."
Fuel prices skyrocketed earlier this month to reach an all-time high of just over $2 per litre for regular gasoline. With it came conversations about how the public is coping with the increasing cost of living.
Those living on the Avalon Peninsula and on Newfoundland's west coast will pay $1.79 for regular gas on Friday. On the Burin Peninsula the price is $1.80 and in central Newfoundland $1.81. Prices on the Northern Peninsula are just over $1.80.
In southern Labrador regular gasoline fell to $1.76, in western Labrador to $1.85 and in central Labrador to $1.59 — the lowest in the province.