January 3, 2008
The following is being distributed at the request of the Public Utilities Board’s Petroleum Pricing Office (PPO):
Varying Changes for Maximum Fuel Prices
Effective 12:01 a.m. Thursday, January 3, 2008, the Public Utilities Board, through its Petroleum Pricing Office, set maximum fuel prices in Newfoundland and Labrador (NL) as per the scheduled adjustment, except in areas where a price freeze is in effect.
Maximum fuel prices resulting from the Dec. 19, 2007 to Jan. 1, 2008 pricing period will change as follows:
Gasoline supplies are slowly rebuilding, though not as much as expected given that refinery output is gradually increasing. Spare capacity on the market is considered extremely tight by many analysts, and demand for gasoline is still considered to be strong even though it’s the off-peak demand season and prices remain relatively high. In the coming months, weather and inventory tightness will influence the market prices of refined fuels, most notably distillates (furnace/stove oil and diesel). Distillates have experienced a persistent decline in inventories and are atthe bottom end of the average range for a high usage period along the northeastern seaboard (where nearly 80 per cent of heating fuel is consumed).
While recent fuel-pricing activity on the commodity
markets has been largely impacted by
1. Automotive Fuels
– Maximum Retail Pump Prices – Effective January 3, 2008
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