Gas prices tumble by more than 4 cents
After almost a month of small but consecutive price hikes, Newfoundland and Labrador's Public Utilities Board has given consumers a break in prices at the gas pump.
In its weekly Thursday setting, the PUB ordered retailers to lower the ceiling on all types of gasoline by about 4.3 cents per litre. The drop may be slightly less in some pricing zones because of rounding for taxes.
The PUB's decision follows a trend in oil prices on the commodities market.
The change means that retailers on the Avalon Peninsula, for instance, can charge no more than $1.366 for a litre of self-serve unleaded gas. Some retailers, though, charge less to compete for customers.
Prices are generally higher in other areas, including $1.41 in St. Anthony and $1.451 in Churchill Falls.
The PUB cut the cost of diesel by 2.1 cents per litre.
As well, the cost of furnace and stove oil dropped by 1.62 cents per litre.