Government Services
February 25, 2010
The following is being distributed at the request of
the Public Utilities Board's Petroleum Pricing Office:
Weekly
Adjustment of Maximum
Prices of Regulated Petroleum Products
Effective 12:01 a.m. Thursday,
February 25, 2010, the Public Utilities Board 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 motor fuel increased by
3.8 cents per litre (cpl);
diesel motor fuel increased by 3.0 or 3.1 cpl
– depending on the HST rounding
impact;
furnace oil heating fuel increased by 2.76
cpl;
stove oil heating fuel increased by 2.68 cpl;
and,
propane heating fuel decreased by 3.9 cpl.
These maximum prices reflect the change in the
average benchmark price of the products over the
seven-day period ending Tuesday of this week.
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 3.36 cpl,
resulting in a 3.8 cpl increase, accounting for taxation
and rounding. The commodity
market movements for the period were affected 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, March 4,
2010.
- 30 -
1.
Automotive Fuels - Maximum Retail Pump
Prices - Effective February 25, 2010.
2.
Heating Fuels - Maximum Tank Wagon
(or**Tank Farm) Prices - Effective
February 25, 2010.
Media contact::
Michelle Hicks
Communications
1-866-489-8800, 489-8837
mhicks@pub.nl.ca or visit the board's website:
www.pub.nl.ca.
2010 02 25 10:35 a.m.
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