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December 17, 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, December 17, 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 months.

Maximum fuel prices changed as follows:

  • All types of gasoline decreased by 4.0 or 4.1 cents per litre (cpl) � depending on the HST rounding impact;
  • Ultra low sulphur diesel (ULSD) decreased by 1.6 or 1.7 cpl � also depending on HST rounding;
  • No. 2 blend furnace oil decreased by 0.76 cpl;
  • Stove oil decreased by 1.24 cpl; and,
  • Residential propane used for home heating purposes increased by 2.3 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 3.5 cpl, resulting in a 4.0 cpl decrease, accounting for taxation and rounding.

The next scheduled price change is Thursday, December 31, 2009.

- 30 -

1. Automotive Fuels � Maximum Retail Pump Prices � Effective December 17, 2009
2. Heating Fuels � Maximum Tank Wagon (or ** Tank Farm) Prices � Effective December 17, 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 12 17                               10:00 a.m.


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