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November 18, 2010

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, November 18, 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 increased by 1.8 or 1.9 cents per litre (cpl);
  • diesel motor fuel decreased by 0.7 to 1.1 cpl;
  • furnace oil and stove oil heating fuel decreased by 0.41 cpl; and,
  • propane heating fuel increased by 2.1 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 1.61 cpl, resulting in a 1.8 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, November 25, 2010.

    - 30 -

    1. Automotive Fuels - Maximum Retail Pump Prices - Effective November 18, 2010.
    2. Heating Fuels - Maximum Tank Wagon (or**Tank Farm) Prices - Effective November 18, 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 11 18                                                     10:05 a.m.
     


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