Government Services
July 8, 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
Zone 11a maximum price suspension lifted
Effective 12:01 a.m. Thursday, July 8, 2010, the Public Utilities Board set
maximum prices for all regulated petroleum products in all areas of the
province, except Zone 14 (Coastal Labrador North) where maximum price
adjustments continue to be suspended.
With the exception of Zone 11a (Coastal Labrador South
— Tanker Supplied) as noted below, maximum fuel prices will change as
follows:
- All types of gasoline motor fuel decreased by
3.0 or 3.1 cents per litre (cpl);
- Island diesel motor fuel decreased by 3.5 or
3.6 cpl;
- Labrador diesel motor fuel decreased by 3.3 or
3.4 cpl;
- Furnace oil and stove oil heating fuel
decreased by 3.6 cpl; and,
- Propane heating fuel increased by 0.6 cpl.
For Zone 11a, the suspension of maximum prices will be
lifted at this time; therefore, maximum fuel prices will change as
follows:
- All types of gasoline motor fuel decreased by
4.3 cpl;
- Diesel motor fuel decreased by 1.4 cpl;
- Stove oil heating fuel decreased by 2.6 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 2.66 cpl, resulting in a 3.0 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, July 15,
2010.
- 30 -
1.
Automotive Fuels — Maximum Retail Pump Prices —
Effective July 8, 2010
2.
Heating Fuels — Maximum Tank
Wagon (or ** Tank Farm) Prices — Effective July 8, 2010
Media contact:
Michelle Hicks
Communications
1-866-489-8800, 489-8837
Email: mhicks@pub.nl.ca or visit the
board's website: www.pub.nl.ca
2010 07 08 9:55 a.m.
