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Government Services October 23, 2008 The following is being distributed at the request of the Public Utilities Board�s Petroleum Pricing Office (PPO): All Maximum Fuel Prices Continue Downward Movement Effective 12:01 a.m. Thursday, October 23, 2008, the Public Utilities Board set new maximum fuel prices in Newfoundland and Labrador, as per its scheduled biweekly adjustment. All maximum prices were lowered as follows: All types of gasoline by 3.9 or 4.0 cents per litre (cpl) - depending on the HST rounding impact; Ultra low sulphur diesel by 4.7 or 4.8 cpl � depending on the HST rounding; Furnace oil and stove oil by 3.26 cpl; and, Residential propane used for home heating purposes by 4.50 cpl. Commodity market pricing for refined fuels have continued moving downward since maximum prices were adjusted last Thursday. This adjustment marks the fifth successive time that prices in the province have been lowered as markets react to declining fuel demand and forecasts of slower global economic growth. Gasoline, furnace and stove oil, as well as residential propane prices are now at the lowest level since the end of 2007. - 30 - 1. Automotive Fuels � Maximum Retail Pump Prices � Effective October 23, 20082. Heating Fuels � Maximum Tank Wagon (or ** Tank Farm) Prices � Effective October 23, 2008 3. Heating Fuels �Residential Propane � Maximum Tank Wagon Prices � Effective October 23, 2008 Media contact: Michelle Hicks 2008 10 23 11:15 a.m. |
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