Newfoundland and Labrador Board of Commissioners o : Weekly maximum fuel prices ~ effective January 14, 2016

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NEWFOUNDLAND AND LABRADOR

BOARD OF COMMISSIONERS OF PUBLIC UTILITIES

MEDIA RELEASE

Thursday, January 14, 2016

Weekly Adjustment of Maximum Prices of Regulated Petroleum Products

Effective 12:01 a.m. Thursday, January 14, 2016, 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 will decrease by up to 5.4 cents per litre (cpl);

• diesel motor fuel will decrease by up to 3.1 cpl;

• furnace oil heating fuel will decrease by 3.47 cpl;

• stove oil heating fuel will decrease by 2.64 cpl; and,

• propane heating fuel will increase by 0.5 cpl.

These maximum prices reflect the change in the average benchmark price of the products over the current pricing period. 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 4.75 cpl, resulting in a decrease of up to 5.4 cpl, accounting for taxation and rounding.

The next scheduled price change is Thursday, January 21, 2016.

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Media contact: Cheryl Blundon, Director Corporate Services, Tel: [phone] Email: [e-mail] or visit the Board's website: www.pub.nl.ca.

P.O. Box 21040, St, John's, NL A1A 5B2