Gas prices take a 3.6-cent tumble
CBC News
Posted: Sep 27, 2012 7:41 AM NT
Last Updated: Sep 27, 2012 11:25 AM NT
A man fills up his car at a St. John's gas pump. (CBC)
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Drivers across Newfoundland and Labrador caught a break Thursday, with the province's fuels regulator instructing retailers to lower prices by as much as 3.6 cents a litre.
The Public Utilities Board's weekly price setting represents the second break in a row after a string of price increased that have followed a rally in recent weeks on the price of oil.
The change means that a litre of unleaded self-serve gas on the Avalon Peninsula, where prices are cheapest, can legally sell for no more than $1.378. Some retailers charge substantially less.
The price of diesel dropped by as much as 2.4 cents per litre.
Meanwhile, the cost of home-heating fuel also dropped. The price for both furnace oil and stove oil dropped by 2.23 cents per litre.
As well, the cost of propane dropped by 1.5 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.
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