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, June 2, 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 increased by 3.5 or 3.6 cents per litre (cpl);
• island diesel motor fuel increased by 3.2 or 3.3 cpl;
• Labrador diesel motor fuel increased by 1.7 cpl;
• furnace oil and stove oil heating fuel increased by 2.84 cpl; and,
• propane heating fuel decreased by 0.5 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 3.12 cpl, resulting in a 3.5 cpl increase, accounting for taxation and rounding.

The next scheduled price change is Thursday, June 9, 2011.

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

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 

2011 06 02             10:30 a.m.