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, January 6, 2011, the Public Utilities Board set maximum prices for all regulated petroleum products in all areas of the province, except where maximum price adjustments have been suspended for the winter months.

Maximum fuel prices changed as follows:

• All types of gasoline motor fuel decreased by 1.0 or 1.1 cents per litre (cpl);
• Diesel motor fuel decreased by 0.9 or 1.0 cpl;
• Furnace oil heating fuel decreased by 1.26 cpl;
• Stove oil heating fuel decreased by 0.91 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 0.92 cpl, resulting in a 1.0 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 costly to purchase these products.

The next scheduled price change is Thursday, January 13, 2011.

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1. Automotive Fuels – Maximum Retail Pump Prices – Effective January 6, 2010
2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective January 6, 2010

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2011 01 06                                                                         10:25 a.m.