Gas prices dropped slightly on Thursday for most consumers in Newfoundland and Labrador. (CBC)

Gas stations across most of Newfoundland and Labrador were instructed Thursday to lower the prices they can charge for fuel.

The Public Utilities Board approved a drop in maximum retail prices for all grades of gasoline of 1.5 cents or 1.6 cents per litre, with the difference due to rounding for taxes.

The change means that retailers on the Avalon Peninsula, where regulated gas prices are cheapest, can charge no more than $1.11 for a litre of self-serve unleaded gas. Prices vary across the province, accounting for costs of transportation and storage.

Truckers should notice no change in the cost of diesel, with the price adjusted only 0.1 cents per litre in a few of the pricing zones.

The PUB, meanwhile, lifted a price freeze in communities in northern Labrador, which stock up on fuels for the winter and spring. The change means that the price of gasoline in Nain and other towns jumps by 9.4 cents per litre.

Meanwhile, the PUB adjusted prices that consumers pay for home-heating fuel. The cost of furnace and stove oil dropped by 0.51 cents per litre, while the cost of residential propane went up 1.5 cents per litre.