Furnace oil sees steep drop in price in unscheduled PUB adjustment

Those who heat their homes with furnace oil will see a little more relief on their receipt on Friday.

In an unscheduled price adjustment, the Public Utilities Board dropped the cost by 16.42 cents a litre.

"The decreases in maximum prices for furnace oil heating fuel are the result of significant decreases in the benchmark prices for New York Harbour Jet which have been attributed, in part, to increased inventory levels for the product in the region," reads the PUB's press release.

Furnace oil now costsbetween $1.29 and $1.34 a litre on the Avalon Peninsula, $1.34 on the Burin Peninsula, $1.33 in central Newfoundland, $1.34 in Springdale, between $1.30 and $1.34 on Newfoundland's west coast and between $1.31 and $1.36 on the Northern Peninsula.

The price also dropped one cent a day ago.

The next scheduled price adjustment is Thursday.

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