March 12, 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, March 12, 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 increased by 3.6/3.7
cents per litre (cpl) – depending on the HST
Ultra low sulphur diesel (ULSD) increased by
0.7/0.8 cpl – also depending on HST rounding;
No. 2 blend furnace oil increased by 0.07 cpl;
Stove oil increased by 0.21 cpl; and.
Residential propane used for home heating
purposes decreased 4.9 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
increased over the period by 3.26 cpl, resulting in a 3.7 cpl
increase, accounting for taxation and rounding. The
Canadian dollar declined an average of 1.75 cents or 2.2 per cent during
this period versus the previous. 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. Therefore, it reduces
any decreases and magnifies any increases that can occur on the
The next scheduled price change will occur Thursday,
- 30 -
Automotive Fuels – Maximum Retail Pump Prices –
Effective March 12, 2009
2. Heating Fuels – Maximum Tank
Wagon (or ** Tank Farm) Prices – Effective March 12,
3. Heating Fuels –Residential Propane – Maximum
Tank Wagon Prices – Effective March 12, 2009
Email: email@example.com or visit the
board’s website: www.pub.nl.ca
2009 03 12 10:40 a.m.