January 9, 2002
(Government Services and Lands)


The following is being distributed at the request of the Petroleum Products Pricing Commission:

Maximum allowable pricing to be announced January 15, 2002

The Petroleum Products Pricing Commission is preparing for the first round of regulated pricing in 2002 on Tuesday of next week. Commissioner George Saunders is indicating that there will most likely be a small upward movement of prices with this round of changes.

During the Christmas period, there have been many fluctuations in the price of petroleum products on world markets. There have been significant increases and decreases, particularly during the past two weeks. World market expectations, with respect to the success of OPEC production cuts, resulted in these variant prices. In the final analysis, however, the overall effect should result in a small increase in prices at the retail level.

As with previous months, the Petroleum Products Pricing Commission is setting maximum prices only, and retailers and companies still have the freedom and flexibility to continue to provide lower prices to consumers in the markets.

Maximum allowable prices will be released on Tuesday, January 15, and will remain in effect until February 15, 2002.

Media contact: George Saunders, (709) 489-8877 or 1 (866) 489-8800.

2002 01 09                         3:45 p.m.

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