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

Effective 12:01 a.m. Thursday, August 12, 2010, the Public Utilities Board 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 decreased by 0.6 or 0.7 cents per litre (cpl);
• Diesel motor fuel increased by 1.6 to 1.9 cpl;
• Furnace oil and stove oil heating fuel increased by 1.29 cpl; and,
• Propane heating fuel increased by 0.7 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 0.6 cpl, resulting in a 0.7 cpl decrease, accounting for taxation and rounding. The commodity market movements for the period were affected 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, August 19, 2010.

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1. Automotive Fuels — Maximum Retail Pump Prices — Effective August 12, 2010
2. Heating Fuels — Maximum Tank Wagon (or ** Tank Farm) Prices — Effective August 12, 2010

Media contact:
David Hillier
Policy and Planning Research Analyst
1-866-489-8800, 489-8837
Visit the board's website: www.pub.nl.ca. 

2010 08 12                                                   11:35 a.m.