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

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 regulatespetroleum 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 is2.1 cents per litre.

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

Stove oilin 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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