Government Services
March 18, 2010
The following is being distributed at
the request of the Public Utilities Board�s Petroleum Pricing Office
(PPO):
Weekly Adjustment of
Maximum Prices of Regulated Petroleum Products
Effective 12:01 a.m. Thursday, March 18,
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
decreased by 1.0 or 1.1 cents per litre (cpl) � depending on the HST
rounding impact;
- diesel motor fuel decreased by 0.2
or 0.3 cpl � also depending on HST rounding;
- furnace oil heating fuel decreased
by 0.25 cpl;
- stove oil heating fuel increased by
0.01 cpl; and,
- propane heating fuel decreased by
2.9 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, decreased over the period by 0.97 cpl,
resulting in a 1.1 cpl decrease, 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 25, 2010.
- 30 -
1.
Automotive Fuels - Maximum Retail Pump Prices - Effective March 18,
2010.
2. Heating Fuels - Maximum Tank Wagon (or**Tank Farm) Prices -
Effective March 18, 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 03 18
10:40 a.m.
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