Government Services
October 16, 2008

The following is being distributed at the request of the Public Utilities Board�s Petroleum Pricing Office (PPO):

Downward Interruption on All Fuel Products

Effective 12:01 a.m. Thursday, October 16, 2008, the Public Utilities Board used the interruption formula to decrease the maximum prices of all regulated fuels.

Maximum prices decreased as follows:

  • all types of gasoline by 8.4 or 8.5 cents per litre (cpl) � depending on the HST rounding effect;
  • ultra low sulphur diesel by 7.3 or 7.4 cpl � also due to HST rounding;
  • furnace oil and stove oil by 7.19 cpl; and,
  • residential propane used for home heating purposes by 5.0 cpl.
  • The decrease in commodity prices continued this past week with lowered forecasts of world demand growth offsetting the supply concerns that are often associated with seasonal demand pressures. Fuel inventories are up as a result of declining demand despite low refining capacity. Maximum gasoline and heating oil prices in the province are now at January 2008 levels.

    - 30 -

    1. Automotive Fuels � Maximum Retail Pump Prices � Effective October 16, 2008
    2. Heating Fuels � Maximum Tank Wagon (or ** Tank Farm) Prices � Effective October 16, 2008
    3. Heating Fuels � Residential Propane � Maximum Tank Wagon Prices � Effective October 16, 2008

    Media contact:

    Michelle Hicks
    Communications
    1-866-489-8800, 489-8837
    mhicks@pub.nl.ca, or visit the Board�s website: www.pub.nl.ca

    2008 10 16                                                     10:00 a.m.
     


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