People in Newfoundland and Labrador are waking up to the third jarring fuel price adjustment by the Public Utilities Board in as many days, with the price of diesel and home heating oils rising by more than 14 cents each on Saturday.
The PUB increased the price of diesel by 17 cents per liter in Newfoundland and 18 cents per liter in Labrador. The price of diesel has fluctuated greatly in Labrador especially over the past three days, as it dropped over 30 cents per liter on Thursday.
Diesel prices now range between $2.76 and $2.87 per liter on the island, and between $1.78 to as high as $3.14 per liter in Labrador.
Furnace oil also saw a dramatic increase of over 14.7 cents per liter Saturday per litre. The new prices put a litre of furnace oil at between $2.08 and $2.12 per litre on the Avalon Peninsula, along with $2.12 in central and western Newfoundland and $2.14 per litre on the island’s northern peninsula.
The price of stove oil also spiked Saturday, up 14.6 cents per liter in Newfoundland and 15.6 cents in Labrador. Customers will see prices ranging from between $1.30 and $1.40 per liter across Labrador, while prices range from $2.13 to $2.30 per liter in Newfoundland.
The are thanks to “another significant upward shift increases overnight in the benchmarks used to set maximum prices” for the affected fuels, according to the PUB. The board has changed the price of fuel 19 times in the past eight weeks.
The price of gasoline is unaffected Saturday, but will rise by an additional 2.6 cents per liter the next day as a result of the carbon tax rates coming into effect on May 1. Diesel will also rise an additional 3.1 cents per liter on Sunday as a result of the tax.
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