Government Services
May 27, 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, May 27, 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 3.5 cents per
litre (cpl);
Diesel motor fuel decreased by 3.0 to 3.2 cpl;
Furnace oil and stove oil heating fuel decreased by 2.87 cpl;
and,
Propane heating fuel decreased by 1.5 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 3.1 cpl,
resulting in a 3.5 cpl decrease, accounting for taxation and rounding.
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, June 3, 2010.
- 30 -
1. Automotive Fuels — Maximum Retail Pump Prices —
Effective May 27, 2010
2. Heating Fuels — Maximum Tank
Wagon (or ** Tank Farm) Prices — Effective May 27, 2010
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.
2010 05 27 9:35 a.m.