Gas prices soar 11.3 cents unexpectedly across N.L.
CBC
Gasoline prices spiked across Newfoundland and Labrador again on Tuesday as the regulatory board in charge of setting prices unexpectedly increased them 11.3 cents per litre.
In a media release issued shortly after 8 p.m. Monday night, the Public Utilities Board said the increase is due to "recent commodity market developments" and a "significant upward shift in the benchmarks" the board uses to set the maximum prices for gasoline.
Consumers will now pay a maximum of $2.17 per litre across the Avalon Peninsula, $2.18 in the Corner Brook and Port aux Basques areas, and $2.19 on the Burin Peninsula and in the central region of the island. On Fogo Island and in the Springdale area, prices have breached the $2.20 a litre mark, with gasoline costing $2.24 and $2.21 respectively. On the Northern Peninsula prices range from $2.19 to $2.21 a litre.
The highest price in Newfoundland is in Ramea where one litre will cost $2.29, at the most.
Prices are a little lower in parts of Labrador by comparison. In the Straits, it is $1.74 a litre, $1.78 in the south and $1.62 in central. But prices are much higher in western Labrador at $2.23 per litre and $2.26 in Churchill Falls.
The PUB generally sets the price on gasoline on Thursday of each week, but with the ongoing global oil market in turmoil since the Russian invasion of Ukraine prices have fluctuated, with the board changing prices nearly two dozen times since March.
There was no increase to other types of fuels such as diesel or home heating oil, which have been steadily rising over recent weeks.
The following chart shows how gas prices have changed recently at Newfoundland and Labrador retailers, as reported by users of the GasBuddy.com website.
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