Fuel prices surge as PUB switches to daily price adjustments

The Public Utilities Board implemented an extraordinary fuel price adjustment overnight in response to continued volatility in global commodity markets.

Gasoline prices rose by up to 8.1 cents per litre. Diesel motor fuel increased by up to 14.1 cents per litre on the Island, while prices in Western Labrador climbed by 15.4 cents per litre.

Heating fuel costs also saw notable increases. Furnace oil on the Island rose by 12.23 cents per litre, while stove oil in Western Labrador increased by 13.42 cents per litre.

In response to ongoing market instability, the Board also announced a temporary shift to daily price setting. Maximum prices for gasoline, diesel, furnace oil and stove oil will now be set five days a week, from Tuesday through Saturday. Propane pricing will continue to be adjusted weekly on Fridays.