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May 21, 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, May 21, 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 1.2 or 1.3 cents per litre (cpl) depending on the HST rounding impact;
  • Ultra low sulphur diesel (ULSD) increased by 1.9 or 2.0 cpl also depending on HST rounding;
  • No. 2 blend furnace oil and stove oil increased by 1.99 cpl; and,
  • Residential propane used for home heating purposes increased by 0.2 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) and converted to Canadian dollars, increased over the period by 1.09 cpl, resulting in a 1.2 cpl increase in the maximum price, accounting for taxation and rounding. The commodity market increases for most products during this period were offset to some extent by a higher Canadian dollar. Since fuel on the commodity markets is priced in U.S. currency, a higher Canadian dollar means it is not as expensive to purchase these products.

    The next scheduled price change is Thursday, June 4, 2009.

    - 30 -

    1. Automotive Fuels – Maximum Retail Pump Prices – Effective May 21, 2009
    2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective May 21, 2009
    3. Heating Fuels –Residential Propane – Maximum Tank Wagon Prices – Effective May 21, 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 05 21                                                    10:10 a.m.
     


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