Government Services
July 15, 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
Zone 14 maximum
price suspension lifted
Effective
12:01 a.m. Thursday, July 15, 2010, the Public Utilities Board set
maximum prices for all regulated petroleum products in all areas of the
province.
With the exception of Zone 14 (Coastal Labrador North)
as noted below, maximum fuel prices changed as follows:
- all types of gasoline motor fuel increased by 1.5 cents per litre (cpl);
- island diesel motor fuel increased by 1.8 or 1.9 cpl;
- Labrador diesel motor fuel increased by 1.4 or 1.5 cpl;
- furnace oil and stove oil heating fuel increased by 1.47 cpl; and,
- propane heating fuel decreased by 0.3 cpl.
For Zone 14, the suspension of maximum prices will be
lifted at this time; therefore, maximum fuel prices changed as follows:
- all types of gasoline motor fuel decreased by 2.8 cpl;
- diesel motor fuel increased by 0.1 cpl;
- stove oil heating fuel decreased by 1.13 cpl;
and,
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 1.32 cpl,
resulting in a 1.5 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, July 22,
2010.
- 30 -
1.
Automotive Fuels — Maximum Retail Pump Prices —
Effective July 15, 2010
2.
Heating Fuels — Maximum Tank
Wagon (or ** Tank Farm) Prices — Effective July 15, 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 07 15 10:45 a.m.
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