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Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration.
Prices for consumer goods and services in the province increased by 6.4 per cent in the first eight months of the year, compared to the same period last year. The increases in prices for fuel oil (70.3 per cent) and gasoline (34.9 per cent) were the largest, reflecting a 59.6 per cent increase in crude oil prices over the same period.
Oil Production Up 1.0% in April 2024. According to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), approximately 6.6 million barrels of oil were extracted from offshore Newfoundland and Labrador in April 2024, representing an increase of 1.0% compared to April 2023.
Mar 25, 2022 · The costs of some fuels in Newfoundland and Labrador are on the rise again on Friday as the Public Utilities Board changed prices for the third time this week as the global oil market continues...
Sep 12, 2022 · As COVID-19 was spreading, an oil price war between Saudi Arabia and Russia hit Newfoundland and Labrador hard. The price of oil plummeted, creating a crisis for Canada’s easternmost province, which is heavily reliant on oil revenue to pay for services for its population of about 520,000.
Effective 12:01 a.m. Thursday, June 16, 2022, the Public Utilities Board set maximum prices for all regulated petroleum products in all areas of the province, except gasoline and diesel motor fuels and stove oil heating fuel in Zones 10, 11, 11a, 11b, and 14. propane heating fuel will decrease by 0.5 cpl.
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Jul 9, 2021 · Then there’s price uncertainty because the Organization of the Petroleum Exporting Countries (OPEC) is considering an increase in production. Still, Barnes said even if OPEC decides to increase production, causing a price drop, a price of around $50 to $70 a barrel is still profitable for producers.
