Government Services
January 29, 2009

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

Regular Adjustment of Maximum Prices of Regulated Petroleum Products

Effective 12:01 a.m. Thursday, January 29, 2009, the Public Utilities Board, following its regular adjustment schedule, set maximum prices for all regulated petroleum products in all areas of the province, except where maximum price adjustments have been suspended for the winter season.

Maximum fuel prices changed as follows:

  • All types of gasoline decreased by 0.7 or 0.8 cents per litre (cpl) – depending on the HST rounding impact;
  • Ultra low sulphur diesel (ULSD) decreased by 0.5 or 0.6 cpl – also depending on HST rounding;
  • No. 2 blend furnace oil declined by 1.72 cpl;
  • Stove oil increased by 0.25 cpl; and.
  • Residential propane used for home heating purposes increased 3.5 cpl.
  • These maximum prices reflect the change in the average benchmark price of the product(s) since the last pricing period. As an example, the average benchmark price for gasoline, as tracked on the New York Mercantile Exchange (NYMEX), converted to Canadian dollars decreased over the period by -0.67 cpl, resulting in a .7/.8 cpl decrease, accounting for taxation and rounding. The commodity market decreases for the period were offset to some extent by a lower Canadian dollar. Since fuel on the commodity markets is priced in U.S. currency, a lower Canadian dollar means it is more costly to purchase these products.

    The next scheduled price change will occur Thursday, February, 12, 2009.

    - 30 -

    1. Automotive Fuels – Maximum Retail Pump Prices – Effective January 29, 2009
    2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective January 29, 2009
    3. Heating Fuels – Residential Propane – Maximum Tank Wagon Prices – Effective January 29, 2009

    Media contact:

    Michelle Hicks
    Communications
    1-866-489-8800, 709-489-8837
    Email: mhicks@pub.nl.ca  or visit the board’s website: www.pub.nl.ca

    2009 01 29                                                  12:35 p.m.


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