Government Services
July 24, 2008The following is being
distributed at the request If the Public Utilities Board�s Petroleum
Pricing Office (PPO):
Maximum Prices Fall Significantly For
Most Fuels
The criteria for the Public Utilities Board�s
interruption formula (IF) were met for all grades of gasoline,
automotive diesel fuel, and furnace/stove oil. Maximum fuel prices
changed as follows:
All types of gasoline decreased by 9.7 or 9.8
cents per litre (cpl) (depending on the rounding effect of the
HST);
Automotive diesel fuel decreased by 8.6 or 8.5
cpl;
Furnace and stove oil decreased by 7.83 cpl;
and
Residential propane will remain the same at
this time.
This decline in fuel prices has been primarily
attributed to the recent weakness in the U.S. economy and the effect
that current and projected economic slowdown is having on demand. U.S
stockpile numbers are showing gains for both gasoline and heating fuels
during a period where gasoline stocks traditionally decline. In recent
days the prices of both crude oil and the products refined from it have
fallen dramatically as the impact of this reduced demand works its way
through the distribution system.
The next scheduled maximum price change will occur
Thursday, July 31, 2008.
More information regarding fuel-price regulation can
be found on the board�s website at
www.pub.nl.ca.
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Media contact:
Petroleum Pricing Office
1-866-489-8800, 489-8837
ppo_info@pub.nl.ca
- Automotive Fuels
� Maximum Retail Pump Prices � July 24, 2008
- Heating Fuels � Maximum
Tank Wagon (or ** Tank Farm) Prices � Effective July 24, 2008
2008 07 24
10:40 a.m.
