Gasoline prices dropped across Newfoundland and Labrador on Tuesday, but diesel and heating fuel saw even larger decreases in the latest fuel price adjustment from the Public Utilities Board.
The price changes came after reports that Iran and the United States had reached an agreement to reopen the Strait of Hormuz, an important shipping route for global oil supplies. Whatever the reason behind the latest adjustment, the lower prices are welcome news for consumers in the province.
Gasoline prices fell by 2.4 cents per litre. On the Avalon Peninsula, the maximum price for regular self-serve gasoline is now just under $1.86 per litre.
Prices vary across the province. Drivers on Fogo Island and the Connaigre Peninsula, for example, can still pay as much as $1.94 per litre. However, all regions saw a decrease in gasoline prices.
Diesel experienced the largest drop. On the island portion of the province, diesel prices fell by up to 5.2 cents per litre, depending on location. In Western Labrador and Churchill Falls, diesel prices dropped by 7.7 cents per litre.
Home heating fuels also became cheaper. Furnace oil prices decreased by 4.44 cents per litre, while stove oil prices fell by 7.42 cents per litre.
The next fuel price adjustment is scheduled for Wednesday.
