Gas prices plunge 5 cents per litre, bringing pump costs to lowest point in 5 months

CBC
·1-min read
New Brunswick drivers have been charged between 3 and 7 cents per litre on more than 1 billion litres of gasoline and diesel bought since last July to compensate oil companies for costs they may face from federal clean fuel rules. (Sean Gallup/Getty Images - image credit)
New Brunswick drivers have been charged between 3 and 7 cents per litre on more than 1 billion litres of gasoline and diesel bought since last July to compensate oil companies for costs they may face from federal clean fuel rules. (Sean Gallup/Getty Images - image credit)
New Brunswick drivers have been charged between 3 and 7 cents per litre on more than 1 billion litres of gasoline and diesel bought since last July to compensate oil companies for costs they may face from federal clean fuel rules.
New Brunswick drivers have been charged between 3 and 7 cents per litre on more than 1 billion litres of gasoline and diesel bought since last July to compensate oil companies for costs they may face from federal clean fuel rules.

Drivers in Newfoundland will be paying less for gas this week. (Sean Gallup/Getty Images)

The price of gas in Newfoundland and Labrador dropped a sharp five cents per litre Thursday, according to the latest weekly setting from the Public Utilities Board, which regulates petroleum products in the province.

The drop means drivers will pay the lowest prices for gas since mid-March.

This decrease contrasts with last week's increase of one cent a litre.

Drivers on the Avalon Peninsula, where gas prices are typically cheapest on the island, will now pay a maximum of $1.727 per litre. Some retailers charge considerably less.

Maximum prices vary across the province. Drivers in the Corner Brook area, for instance, will pay no more than $1.735 a litre, while gas is $1.848 a litre in remote communities on Newfoundland's south coast. Prices in Labrador range from $1.644 in Happy Valley-Goose Bay to $2.196 for drums on the south coast.

The PUB increased the price of diesel on the island by 1.8 cents per litre. In Western Labrador and Churchill Falls, the increase is 2.1 cents per litre.

Furnace oil price decreased by 1.52 cents per litre, putting prices between $1.097 and $1.27.

Stove oil in Newfoundland decreased by 1.52 cents per litre. In Labrador, the price dropped by 2.97 cents.

Propane increased by 0.9 cents per litre.

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