Government Services
May 19, 2011

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

Weekly Adjustment of Maximum Prices of Regulated Petroleum Products

Effective 12:01 a.m. Thursday, May 19, 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.

The changes to maximum fuel prices are as follows:

• all types of gasoline motor fuel decreased by 5.0 or 5.1 cents per litre (cpl);
• diesel motor fuel will either not change or increase by 0.1 cpl;
• furnace oil and stove oil heating fuels decreased by 0.11 cpl; and,
• propane heating fuel decreased by 1.1 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, decreased over the period by 4.46 cpl, resulting in a 5.0 cpl decrease, accounting for taxation and rounding. The decreases in the benchmark prices for gasoline for this period were offset 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, May 26, 2011.

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1. Automotive Fuels – Maximum Retail Pump Prices – Effective May 19, 2011
2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective May 19, 2011

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 05 19                                                                           10:40 a.m.