Gas plummets almost 6 cents across N.L. in 4th straight price drop

The costof gas dropped significantly across Newfoundland and Labrador on Thursday morning, bringing prices to their lowest point in eight months.

The Public UtilitiesBoard lowered the maximum price of gas by 5.9 cents per litre, dropping the maximum price on the Avalon Peninsula, where prices are usually cheapest, to $1.604 per litre.

Prices vary across the rest of the island, ranging from $1.61 to $1.78 per litre.

Thursday marks the fourth consecutive week that gas prices have dropped, totalling a 12.3-cent-per-litre decrease since Aug. 22.

The new setting is also the lowest pricefor gas since mid-January, and about 33 cents less than peak prices reached in April.

The price reduction also applies to Labrador, with the exception of Black Tickle. A resupply at Black Tickle Convenience and Gas also came with a price adjustment to match current pricing benchmarks, resulting in a decrease of 11.9 cents per litre. Prices across Labrador now range from $1.64 to $2.20 per litre.

All other fuels also saw a decrease in price.

Diesel is down4.7 cents per litre in most areas, and by 5.4 cents per litre in Labrador West and Churchill Falls. The change puts maximum prices between $1.65 and $1.77 per litre in Newfoundland and between $1.79 and $2.59 per litre in Labrador.

Furnace oil decreased by just over four cents per litre. Customers in Newfoundland will pay between $1.02 and $1.20 per litre depending on location.

The maximum price of stove oil decreased by the same amount across the province, with the exceptions of 4.85 cents per litre in Labrador West and Churchill Falls and 0.17 cents per litre at Black Tickle Convenience. Maximums for the fuel now range from $1.07 to $1.25 per litre in Newfoundland and from $1.17 to $1.95 per litre in Labrador.

Propane decreased by 1.3 cents per litre, putting maximum prices between 94 cents and $1.07 per litre in Newfoundland and between 80 cents and $1.15 per litre in Labrador.

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