Diesel, heat­ing prices hiked

The Southern Gazette - - FRONT PAGE -

The price of diesel at the pumps and some heat­ing fu­els jumped about five cents a litre in New­found­land and Labrador Thurs­day.

The Pub­lic Util­i­ties Board, us­ing the pro­vi­sions of its in­ter­rup­tion for­mula, in­creased the max­i­mum price of ul­tra low sul­phur diesel (ULSD) by 5.4 or 5.5 cents per litre (cpl) and fur­nace and stove oil by 4.40 cpl.

The Burin Penin­sula diesel price is now $1.044 a litre with fur­nace oil set at 73.03 cpl and stove oil 77.53.

There was no change to the max­i­mum prices of all types of gaso­line or res­i­den­tial propane used for home heat­ing pur­poses, as the in­ter­rup­tion cri­te­ria were not met for th­ese prod­ucts. This ad­just­ment did not af­fect prices in ar­eas where ad­just­ments had been sus­pended for the win­ter sea­son.

This ad­just­ment in max­i­mum prices re­flects the change in the av­er­age bench­mark price for ULSD, as tracked on the New York Mer­can­tile Ex­change (NYMEX). Con­verted to Cana­dian dol­lars, the in­crease over the seven-day pe­riod was 4.8 cpl, re­sult­ing in a 5.4 or 5.5 cpl in­crease, ac­count­ing for tax­a­tion and round­ing. The com­mod­ity mar­ket move­ments for the pe­riod were off­set to some ex­tent by a higher Cana­dian dol­lar.

The next sched­uled price change is this Thurs­day.

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