Weekly Adjustment of Maximum Prices of Regulated Petroleum Products

Effective 12:01 a.m. Thursday, June 3, 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 1.4 or 1.5
cents per litre (cpl);
• Diesel motor fuel increased from 2.0 to 2.2 cpl;
• Furnace oil and stove oil heating fuel increased by 2.02 cpl; and,
• Propane heating fuel decreased by 0.3 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 1.26 cpl, resulting in a 1.4 cpl increase, accounting for taxation and rounding. The commodity market movements for the period were offset 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 not as expensive to purchase these products.

2010 06 03                                                      10:05 a.m.