Gas jumps over 6 cents across N.L., diesel up over 4 cents

The price of gasoline and diesel and home heatinghas increased across Newfoundland and Labrador.

The province's Public Utilities Board increased the maximum price of a litre of gasoline by 6.6 cents Thursday, raising the price at just under $1.73 per litre on the Avalon Peninsula.

Prices vary in other parts of the province, ranging from $1.73 to $1.90 per litre across the rest of Newfoundland and from $1.79 to $2.13 per litre in Labrador.

Diesel increased by 4.5 cents per litre across most of Newfoundland and Labrador, and4.7 cents per litre in Labrador West and Churchill Falls. The increase puts prices between $1.71 and $1.83 per litre on the island and between $1.78 and $2.27 in the Big Land.

All other fuels, furnace oil, stove oil and propane, increased or decreased by less than a cent per litre. Furnace oil and stove oil dropped by 0.33 cents per litre, while stove oil decreased in Labrador West and Churchill Falls by just 0.03 cents.

Propane decreased by 0.6 cents.

On top of reflecting average benchmark pricing, Thursday's update also reflects the implementation of federal clean fuel regulations earlier this month. The regulations will addabout 17 cents per litre on gasoline and 16 cents per litre on dieselby 2030.

In its weekly news release Thursday, the PUB noted it has adjusted itspricing to reflect the additional costs suppliers face to meet carbon-intensity reduction requirements of the regulations.

The adjustment, which is based on amaximum credit price of $300 for transfers through the compliance credit clearing
mechanism under the regulations, was set at 3.74 cents per litre for gas and 4.17 cents per litre for diesel which affects prices set on Thursday.

Home heating fuels don't have a carbon adjustment attached to them as they aren't required under the clean fuel regulations.

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