Government Services
October 1, 2009
The following is being
distributed at the request of the Public Utilities
Board�s Petroleum Pricing Office (PPO):
Interruption Adjustment in the Maximum Price of Gasoline
Effective 12:01 a.m.
Thursday, October 1, 2009, the Public Utilities Board,
in accordance with the provisions of the interruption
formula, will decrease the maximum price for all types
of gasoline by 4.7 or 4.8 cents per litre (cpl) �
depending on the HST rounding impact.
There will be no change
to the maximum prices of automotive diesel,
furnace/stove oil or residential propane used for home
heating purposes, as the interruption criteria were not
met for these products.
Since the last pricing
period, the average benchmark price of gasoline, as
tracked on the New York Mercantile Exchange (NYMEX) and
converted to Canadian dollars, decreased over the
seven-day period by 4.2 cpl, resulting in a 4.7 cpl
decrease, 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 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 is Thursday, October 8, 2009.
- 30 -
1.
Automotive Fuels � Maximum
Retail Pump Prices � Effective October 1, 2009
Media contact:
Michelle Hicks
Communications
1-866-489-8800, 489-8837
mhicks@pub.nl.ca
Board�s website:
www.pub.nl.ca
2009 10 01
10:35 a.m.
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