Gas spikes by 10.5 cents across N.L. in unexpected change
CBC
Gasoline prices in Newfoundland and Labrador skyrocketed another 10.5 cents per litre on Tuesday as the Public Utilities Board made an unexpected change to some fuel prices overnight.
The board said the change is "due to recent commodity market developments," and intervened to adjust maximum prices for regulated petroleum products outside of its regular pricing schedule, usually slated for Thursday of each week.
In a news release issued Tuesday evening, the PUB said there was a "significant upward shift in the benchmarks" the board uses to set its maximum prices.
"The resulting upward shift in the board's average benchmark prices is extraordinary and the board has determined an adjustment of maximum prices for regulated petroleum products is warranted at this time," read the release.
Regular self-serve gasoline will now cost consumers on the Avalon Peninsula $1.94 per litre at the pumps, $1.96 on the Burin Peninsula, $1.97 in central Newfoundland, $1.98 in the Springdale area, $1.95 in Corner Brook and Gros Morne, $1.96 in the Port aux Basques area, and $1.98 in the St. Anthony area.
The highest price per litre for self-serve gasoline on the island is in Ramea at $2.07 per litre. Meanwhile, along the island's south coast, from Grey River to La Poile, where full-serve is the only option, a litre of gasoline will cost $2.14.
In Labrador, prices for regular gas have reached $1.72 in the Straits, $1.76 on south coast, $2.03 in Churchill Falls, $2.01 in Labrador West and $1.59 in central.
Stove heating oil also saw a massive increase on Tuesday, jumping by 16.94 cents per litre.
Customers on the northeast Avalon will pay $1.65 on Tuesday, $1.68 on the northwest Avalon, $1.69 on the southern Avalon, Burin Peninsula and in central Newfoundland, $1.70 in Springdale, $1.66 in the Corner Brook area, $1.69 in the Port aux Basques area, and $1.72 in St. Anthony.
For Labrador, in the Straits, stove heating oil reached $1.30 per litre on Tuesday, $1.31 in southern Labrador, $1.16 in central, $2.36 in Labrador West, $2.38 in Churchill Falls and $1.37 in coastal Labrador North.
There were no changes to other fuel prices overnight.
The following chart shows how gas prices have changed recently at Newfoundland and Labrador retailers, as reported by users of the GasBuddy.com website.
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