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, July 28, 2011, the Public Utilities Board set maximum prices for all regulated petroleum products in all areas of the province.

The changes to maximum fuel prices are as follows:

• all types of gasoline motor fuel decreased by 0.9 or 1.0 cents per litre (cpl);
• diesel motor fuel decreased by 0.5 to 0.8 cpl;
• furnace oil and stove oil heating fuel decreased by 0.35 cpl; and,
• propane heating fuel will not 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 0.84 cpl, resulting in a 0.9 cpl decrease, accounting for taxation and rounding.

The next scheduled price change is Thursday, August 4, 2011.

- 30 -

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 

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

2011 07 28                                                                            10:25 a.m.