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August 18, 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

Effective 12:01 a.m. Thursday, August 19, 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 4.2 or 4.3 cents per litre (cpl);
  • Diesel motor fuel decreased from 3.3 to 3.5 cpl;
  • Furnace oil and stove oil heating fuel decreased by 3.04 cpl; and,
  • Propane heating fuel experienced no change.
  • 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 3.72 cpl, resulting in a 4.2 cpl decrease, 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 expensive to purchase these products.

    The next scheduled price change is Thursday, August 26, 2010.

    - 30 -

    1. Automotive Fuels — Maximum Retail Pump Prices — Effective August 18, 2010
    2. Heating Fuels — Maximum Tank Wagon (or ** Tank Farm) Prices — Effective August 18, 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 08 18                                                       12:05 p.m.
     


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