Government Services
June 11, 2009
The following is being distributed at the request of the Public
Utilities Board�s Petroleum Pricing Office (PPO):
Interruption Adjustment in Maximum Prices of Distillate Fuel Products
Effective 12:01 a.m. Thursday, June 11, 2009, the Public Utilities
Board, in accordance with the provisions of the interruption formula,
increased the maximum price of ultra low sulphur diesel (ULSD) by 5.4 or
5.5 cents per litre (cpl) and furnace and stove oil by 4.40 cpl.
This adjustment does not affect maximum prices in areas where maximum
price adjustments have been suspended for the winter season.
There will be no change to the maximum prices of all types of gasoline
or residential propane used for home heating purposes, as the
interruption criteria were not met for these products.
This adjustment in maximum prices reflects the change in the average
benchmark price of the products since the last pricing period. For
example, the average benchmark price for ULSD, as tracked on the New
York Mercantile Exchange (NYMEX), converted to Canadian dollars,
increased over the seven-day period by 4.8 cpl, resulting in a 5.4 or
5.5 cpl increase, accounting for taxation and rounding. The criterion
for an interrupt adjustment is +/- 4.0 cpl over a seven-day period. The
commodity market movements for the 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 18, 2009.
- 30 -
1. Automotive Fuels � Maximum Retail Pump Prices � Effective June 11,
2009
2. Heating Fuels � Maximum Tank Wagon (or ** Tank Farm) Prices �
Effective June 11, 2009
Media contact:
Michelle Hicks
Communications
1-866-489-8800, 489-8837
E-mail: mhicks@pub.nl.ca or visit
the board�s website: www.pub.nl.ca
2009 06 11
9:30 a.m.
