The following is being distributed at the request of the Board of Commissioners of Public Utilities:

Weekly Adjustment of Maximum Prices of Regulated Petroleum Products

Effective 12:01 a.m. Thursday, September 9, 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 experienced either no change or an increase of 0.1 cents per litre (cpl);
• Diesel motor fuel decreased by 0.2 to 0.4 cpl;
• Furnace oil and stove oil heating fuel decreased by 0.09 cpl; and,
• Propane heating fuel increased by 1.2 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 0.05 cpl, resulting in a 0.1 cpl increase, accounting for taxation and rounding. The commodity market movements for the period were offset 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, September 16, 2010.

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1. Automotive Fuels — Maximum Retail Pump Prices — Effective September 9, 2010
2. Heating Fuels — Maximum Tank Wagon (or ** Tank Farm) Prices — Effective September 9, 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 09 09                                                   11:10 a.m.