Government Services
July 22, 2010
The following is being distributed at the request of
the Public Utilities Board's Pricing Petroleum Office (PPO):
Weekly Adjustment of Maximum Prices of Regulated
Petroleum Products
Effective 12:01 a.m. Thursday, July 22, 2010, the Public
Utilities Board will set maximum prices for all regulated petroleum
products in all areas of the province.
Maximum fuel prices changed as follows:
all types of gasoline motor fuel increased by 0.4 or 0.5
cents per litre (cpl);
island diesel motor fuel increased by 0.8 or 0.9 cpl;
Labrador diesel motor fuel increased by 0.7 or 0.8 cpl;
furnace oil and stove oil heating fuel increased by 0.63 cpl;
and,
propane heating fuel decreased by 0.4 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 0.39 cpl,
resulting in a 0.4 cpl increase, accounting for taxation and rounding.
The commodity market movements for the period were affected 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 29, 2010.
- 30 -
1. Automotive Fuels - Maximum Retail Pump Prices - Effective July 22, 2010.
2. Heating
Fuels - Maximum Tank Wagon (or**Tank Farm) Prices - Effective July 22,
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 22 11:40 a.m.
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