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January 8, 2009

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

Automotive, Distillate Maximums Increase After Large Declines

The Public Utilities Board’s interruption formula criteria were met for most regulated fuels, and maximum prices for these fuels increased effective 12:01 a.m., Thursday, January 8, 2009, except in areas currently under a price freeze.

Maximum prices increased as follows:

  • all types of gasoline by 6.9 or 7.0 cents per litre (cpl) – depending on the HST rounding impact;

  • ultra low sulphur diesel by 8.2 or 8.3 cpl – also depending on HST rounding;

  • No. 2 blend furnace oil by 7.12 cpl; and,

  • Stove oil by 5.78 cpl.

  • There was no change to the maximum price of residential propane used for home heating purposes, as the interruption formula criteria were not met.

    After several months of downward pressure, the commodity markets gained momentum this past week such that maximum gasoline prices in Newfoundland and Labrador (NL) saw only its second increase in more than three months.

    - 30 -

    1. Automotive Fuels – Maximum Retail Pump Prices – Effective January 8, 2009,
    2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective January 8, 2009.

    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.

    2009 01 08                                                      10:10 a.m.
     


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