Gas prices dip by almost 2 cents
After spiking by more than 10 cents in just two weeks, gas prices across Newfoundland and Labrador got a little cheaper on Thursday.
In its weekly price setting, the Public Utilities Board instructed retailers to lower the maximum price they can charge by up to 1.8 cents a litre.
The change means, for instance, that retailers on the Avalon Peninsula can now charge no more than $138.8 for a litre of self-serve gas. Prices vary around the province, from $1.413 in Gander to $1.425 in St. Anthony.
Vehicles using diesel are feeling a pinch. In Newfoundland, the setting increased by 1.5 cents per litre, while diesel in Labrador cost 6.1 cents per litre more on Thursday.
The PUB raised prices for furnace oil by 0.87 cents per litre. Propane was up 0.9 cents per litre.
The chart below shows how average gas prices in Newfoundland and Labrador have changed over the last 12 months, compared to both changes in the national average for gas prices and the global price of oil.