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
Suspension of maximum price adjustments for Zones 11a and 14 in Labrador

Effective 12:01 a.m. Thursday, November 3, 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 increased by 0.3 or 0.4 cpl;
• Furnace oil heating fuel decreased by 0.21 cpl;
• Stove oil heating fuel decreased by 0.1 cpl; and,
• Propane heating fuel decreased by 0.8 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 0.81 cpl, resulting in a 0.9 cpl decrease, accounting for taxation and rounding. The commodity market movements for the period were affected 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 expensive to purchase these products.

As of November 3, maximum price adjustments for Zones 11a (Coastal Labrador South – Tanker Supplied) and 14 (Coastal Labrador North) in Labrador have been suspended for the winter months.

The next scheduled price change is Thursday, November 10.

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1. Automotive Fuels – Maximum Retail Pump Prices – Effective November 3, 2011  
2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective November 3, 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 11 03             10:55 a.m.