Prices of Gasoline Unexpectedly Increased by 10.5 cents in Newfoundland and Labrador

Due to an overnight adjustment by the Public Utilities Board, gas prices in Newfoundland and Labrador rose by 10.5 cents per litre on Tuesday.

“Due to recent commodity market developments,” the board said it was changing maximum prices for regulated petroleum products beyond its normal pricing schedule, which is normally Thursday of each week.

According to a media release on Monday, there was a “significant upward shift in the benchmarks” used by the board to calculate its maximum rates, said PUB

“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.”

Regular self-serve gasoline now costs $1.94 per litre in the Avalon Peninsula, $1.96 on the Burin Peninsula, $1.97 in central Newfoundland, $1.98 in the Springdale region, $1.95 in Corner Brook and Gros Morne, $1.96 in Port aux Basques, and $1.98 in St. Anthony.

At $2.07 for a litre, Ramea has the island’s highest self-serve gasoline price. A litre costs $2.14 in the south coast of Newfoundland, from Grey River to La Poile, where only full-serve stations are available.

Gas prices in Labrador have risen to $1.72 in the Straits, $1.76 on the southern coast, $2.03 in Churchill Falls, $2.01 in Labrador West, and $1.59 in central Labrador.

Original source material for this article taken from here