PUB announces changes to Petroleum Products Pricing

The Public Utilities Bard has completed the Island portion of the Petroleum Products Pricing Review, as directed by the Minister of Digital Government and Service NL in June 2022.

The Board will make a number of changes to petroleum products pricing on the Island. Price changes will be made on Friday rather than Thursday.

Five days of data will be used in the calculation of maximum prices. Minimum pricing will not be introduced.

There will be no changes to the products or blending reflected in maximum prices for gasoline, diesel and furnace oil on the Island. Maximum prices will no longer be set for stove oil on the Island.

Current wholesale mark-ups will not change for gasoline, diesel and furnace oil on the Island.

The zone differentials will increase for gasoline, diesel, and furnace oil on the Island.

The retail mark-ups will increase for gasoline, diesel, and furnace oil on the Island. The increases in the retail mark-ups and zone differentials will be phased-in over a six-week period to limit the weekly impact on maximum prices.

A separate report addressing petroleum products pricing in Labrador will be released in the coming weeks.