Gas prices drop significantly

Newfoundland and Labrador’s fuels regulator instructed retailers Thursday to cut prices. The maximum allowed price for all grades of gasoline by 3.4 or 3.5 cents a litre, depending on the area of the province. This means that a litre of self-serve unleaded gas on the Avalon Peninsula, where prices are cheapest, can now sell for no more than $1.373 – but retailers have the option to sell less to lure customers. The relief in gas prices is expected to be short lived – as the summer approaches.

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