Gas prices have reached a significant milestone on the Avalon Peninsula, surpassing $2 per litre. This change comes as the Public Utilities Board (PUB) has adjusted the maximum price of gasoline by 8.5 cents per litre due to ongoing market fluctuations.
Overview of Fuel Price Changes
This increase took effect following a decision made on Wednesday. The PUB typically revises prices on Fridays, but due to volatility in the market—mainly influenced by the war in the Middle East—daily updates have been implemented.
Current Gas Prices
- Maximum gas prices on the Avalon Peninsula now range from $2.04 to $2.19 per litre.
- Across Newfoundland, prices vary between $2.04 and $2.19 per litre.
- In Labrador, maximum prices range from $1.60 to $2.14 per litre.
According to historical data from the PUB, this marks the first instance since July 14, 2022, that gas prices on the Avalon Peninsula have exceeded $2 per litre.
Other Fuel Price Adjustments
In addition to the increase in gasoline prices, other fuel types have seen price reductions:
- Diesel prices decreased by 6.9 cents per litre across much of Newfoundland.
- In Labrador West and Churchill Falls, diesel dropped by 3.5 cents per litre.
- The new maximum diesel prices range from $2.52 to $2.65 per litre in Newfoundland and from $1.75 to $2.70 per litre in Labrador.
- Furnace oil prices fell by nearly six cents per litre, with customers paying between $1.99 and $2.19 per litre, depending on location.
- Stove oil prices decreased by 1.6 cents per litre in Labrador West and Churchill Falls, with maximum prices ranging from $1.28 to $2.14 per litre.
These shifts in fuel prices reflect broader market conditions and will continue to be monitored closely by regulators and consumers alike.
