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Government Services
April 28, 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
Pricing methodology adjustments made to reflect changes to product specifications

Effective 12:01 a.m. Thursday, April 28, 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.

The changes to maximum fuel prices are as follows:

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 0.12 cpl, resulting in a 0.1 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 costly to purchase these products.

With this adjustment, the pricing methodology for the calculation of the maximum price of furnace oil heating fuel and diesel motor fuel on the island will be adjusted to reflect changes in the specifications of the products supplied in the market. The specific changes are:

As there is no change in the specification of the products supplied to the Labrador market, the methodology used to calculate maximum prices in Labrador will not be changed at this time.

The next scheduled price change is Thursday, May 5, 2011.

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1. Automotive Fuels – Maximum Retail Pump Prices – Effective April 28, 2011 PDF
2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective April 28, 2011 PDF

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

2011 04 28             9:50 a.m.

 
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