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, November 24, 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 3.0 or 3.1 cents per litre (cpl);
• Diesel motor fuel decreased by 3.3 or 3.4 cpl;
• Furnace oil heating fuel decreased by 2.57 cpl;
• Stove oil heating fuel decreased by 2.48 cpl; and,
• Propane heating fuel increased 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 2.71 cpl, resulting in a 3.1 cpl decrease, accounting for taxation and rounding.

The next scheduled price change is Thursday, December 1, 2011.

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1. Automotive Fuels – Maximum Retail Pump Prices – Effective November 24, 2011
2. Heating Fuels – Maximum Tank Wagon (or ** Tank Farm) Prices – Effective November 24, 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 24             9:45 a.m.