Gas prices across Newfoundland and Labrador dropped Thursday morning, although consumers will probably need to buy a full tank to notice the change.

The Public Utilities Board told retailers to lower the ceiling on prices for all grades of gasoline by 0.2 or 0.3 cents per litre. The difference is due to rounding for taxes in different geographic pricing areas.

The decision marks the third week in a row that the PUB lowered gas prices, although the change was overshadowed by last week's drop of at least 4.2 cents per litre.

The settings were based on data collected through last week, but before a tumble in oil prices on Wednesday. Those changes, should they hold, will likely be reflected in next week's setting.

Thursday's setting brings the price of a litre of self-serve unleaded gas at Avalon Peninsula retailers to $1.053 per litre. Prices vary across the province.

Meanwhile, the PUB also lowered the cost of diesel by between 0.2 cents and 0.4 cents per lire.

Prices for home-heating fuels also dropped marginally.

The graph below illustrates how average gas prices in the province have changed over the last 12 months, compared to changes in the price of oil and against the national average.