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
Zone 11a maximum price suspension lifted

Effective 12:01 a.m. Thursday, June 9, the Public Utilities Board set maximum prices for all regulated petroleum products in all areas of the province, except Zone 14 (Coastal Labrador North) where maximum price adjustments continue to be suspended.

With the exception of Zone 11a (Coastal Labrador South – Tanker Supplied) as noted below, the changes to maximum fuel prices are as follows:

• All types of gasoline motor fuel decreased by 1.0 or 1.1 cents per litre (cpl);
• Island diesel motor fuel increased by 1.5 or 1.6 cpl;
• Labrador diesel increased 0.9 or 1.0 cpl;
• Furnace oil and stove oil heating fuels increased by 1.14 cpl; and,
• Propane heating fuel increased by 0.1 cpl.

For Zone 11a, the suspension of maximum prices will be lifted at this time as supplies have resumed to the region; therefore, the changes to maximum fuel prices are as follows:

• All types of gasoline motor fuel increased by 19.6 cpl;
• Diesel motor fuel increased by 20.2 cpl; and,
• Stove oil heating fuel increased by 18.16 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 0.89 cpl, resulting in a 1.0 cpl decrease, accounting for taxation and rounding.

The next scheduled price change is Thursday, June 16.

- 30 -

1. Automotive Fuels - Maximum Retail Pump Prices - Effective June 9, 2011.
2. Heating Fuels - Maximum Tank Wagon (or **Tank Farm) Prices - Effective June 9, 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 06 09 11:00 a.m.