N.L. fuel prices drop after 3 weeks of record highs

Gas prices in Newfoundland and Labrador are going down after hitting record highs for three weeks in a row.

The Public Utilities Board cut the price of all types of gasoline by1.4 cents per litre on Thursday.

The reduction in price means that unleaded self-serve gasoline on the Avalon Peninsula can now sell for no more than $1.534 a litre.

Prices are higher in other parts of the province. For example, in central Newfoundland, gas is $1.559 a litre.

In central Labrador, prices are lower at $1.508 a litre.

The reduction comes after gas prices reached a record high of $1.548 a litre on the Avalon Peninsula on July 15.

In an interview with CBC News last week, Energy Minister Andrew Parsons said it is difficult for his department to limit changes in gas prices since they are affected by multiple levels of government and the global market.

The PUB also announced decreases in the price of diesel, furnace oil and stove oil this week. Diesel is going down by 1 cents per litre, while furnace oil and stove oil will both decrease by 1.23 cents per litre.

The only fuel price to rise was the price of propane oil, by half a centper litre.

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