2.6-cent gas drop in latest PUB price setting
Home-heating fuels dip slightly in price
Gas prices dropped to their lowest level in two months Thursday, as Newfoundland and Labrador's fuels regulator reacted to swings in commodity markets.
The Public Utilities Board lowered the ceiling on all types of gas by 2.6 cents a litre.
The change brings gas prices to where they were in early October, and is the latest in a zig-zag series of price fluctuations this fall.
On the Avalon Peninsula, where prices tend to be cheapest apart from some areas of Labrador where prices are suspended for the season, a litre of self-serve unleaded gas must now be sold for no more than $1.647. Some retailers charge considerably less.
The PUB, which has been regulating N.L. fuel prices since 2001, lowered the price of diesel by up to 2.2 cents per litre.
Furnace oil dropped 1.89 cents a litre on Thursday, while stove oil for heating dropped 1.87 cents across Newfoundland and by 1.9 cents in Labrador West and in Churchill Falls.
Propane for heating increased 1.2 cents a litre.
Looking ahead to the holiday season, the PUB said it will adjust its regular schedule of Thursday price settings. Settings will take effect Saturday, Dec. 28, and Friday, Jan. 3.
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