Diesel, heating prices hiked
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.