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Budget 2022 growth forecasts. Gross Domestic Product (GDP) The Department of Finance expects Newfoundland and Labrador’s nominal and real GDP to grow by 10.1 and 0.9 per cent, respectively, in 2022. Higher GDP growth relative to what was forecasted at budget is due to higher than expected oil prices and oil production (see Table 1). Consumer ...
Petroleum Products Pricing. Price Change Effective: June 21, 2022. The following information is provided to illustrate the change in the prices for the date above. It is an unofficial document provided to illustrate the changes to the components that make up the current maximum price compared to the previous period's maximum price.
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.
Oct 19, 2022 · Economic forecast: 0.9% real growth in calendar year 2022—up from 0.5% in Budget 2022; nominal growth forecast raised from 3.6% to 10.1%. Oil prices: raised Brent crude forecast to 102 USD/bbl from 86 USD/bbl in Budget; oil production outlook improved slightly by 3.5%.
Newfoundland and Labrador's fiscal and economic update reveals how the province's finances have benefited from better-than-expected economic conditions and higher-than-planned oil prices, as a projected $351 million deficit for 2022-23 has transformed into a $479 million surplus.
In 2022, real GDP in the St. John’s Census Metropolitan Area (CMA) is forecast to decrease by 3.2% to $15.6 billion (in $2012), in comparison to an expected increase of 0.5% for the province as a whole. GDP growth in the CMA is being held back by declining oil production, which is expected to total 82.3 million barrels in 2022, a decrease of ...
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stove oil heating fuel will increase by up to 6.80 cpl. These maximum prices reflect the change in the average benchmark price of the products since the Board last adjusted maximum prices on Thursday, August 25, 2022.
