Government Services
June 17, 2010The 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, June
17, 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 0.9 or 1.0
cents per litre (cpl);
island diesel motor fuel decreased by 0.1 or 0.2 cpl;
Labrador diesel motor fuel increased by 0.1 cpl;
furnace oil and stove oil heating fuel increased by 0.17 cpl;
and,
propane heating fuel decreased by 0.8 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 0.88 cpl,
resulting in a 1.0 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 it is not as
expensive to purchase these products.
The next scheduled price change is Thursday, June 24, 2010.
- 30 -
1. Automotive Fuels — Maximum Retail Pump
Prices — Effective June 17 2010
2. Heating Fuels — Maximum Tank
Wagon (or ** Tank Farm) Prices — Effective June 17, 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 06 17 10:10 a.m.