The max price of fuel at gas pumps throughout Newfoundland and Labrador fell for the sixth straight week on Thursday.
Fuel decreased by 2.5 cents per litre (cpl) to a max of $1.19 on the Avalon Peninsula. In total, gasoline motor fuel has dropped 19.9 cpl since Oct. 18.
“These maximum prices reflect the change in the average benchmark price of the products over the current pricing period,” the Public Utilities Board stated in a release explaining the drop. “As an example, the average benchmark price for gasoline, as tracked on the New York Mercantile Exchange (NYMEX) and converted to Canadian dollars, decreased over the period by 2.14 cpl, resulting in a decrease of up to 2.5 cpl, accounting for taxation and rounding.”
Diesel fuel is down 3.9 cpl, furnace oil dropped 3.13, and stove oil fell by 3.41. Propane was the only regulated petroleum product not to see a dip in price.