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- A separate review for Labrador is expected in the coming weeks. The report was mandated by the provincial government in 2022 to review the suitability of the pricing mechanism for benchmark fuel prices and the maximum markup from the wholesale price to the retailer to the retail price to the consumer.
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Jun 30, 2022 · Fuel prices across most of Labrador have changed by large amounts up and down as summer pricing comes into effect across the region. In a press release from the Newfoundland and Labrador's...
Jun 6, 2024 · A separate review for Labrador is expected in the coming weeks. The report was mandated by the provincial government in 2022 to review the suitability of the pricing mechanism for benchmark...
- The Benchmark
- Marking Up
- Then Comes The Taxes
- More Transparency Coming, Says Government
To calculate motor fuel prices each week, the PUB pays for data from Platts U.S. Marketscan, an overview of United States fuel markets which sets a daily "benchmark" price. The benchmark price for gas is influenced by numerous factors, including the price of crude oil and global events like the COVID-19 pandemic and Russia's invasion of Ukraine in ...
Once the PUB has calculated that base price for motor fuel — $1.2477 per litre on the Avalon Peninsula as of Friday — it adds what it calls a "total allowed markup." That markup was $0.2593 per litre of self-service gas on the Avalon Peninsula on Friday. In a statement provided to CBC News, PUB director of corporate services Cheryl Blundon said tha...
After that, it's time to add taxes — which is where the government does have some say in what people pay. In the House of Assembly, Progressive Conservative Opposition members have hammered the provincial government for its gas tax. Finance Minister Siobhan Coady hasn't budged on current taxation, and said eliminating the carbon tax on gas could me...
Last week, Digital Government and Service N.L. Minister Sarah Stoodley announced details of new amendmentsto the Petroleum Products Act, meant to give more transparency to how the PUB calculates fuel prices. "Right now, government doesn't have the information on, for example, what's involved in the total allowed markup. That's kind of a mystery for...
Jun 30, 2022 · With changes in pricing benchmarks, fuel prices in Labrador break down as follows: From the Labrador Straits to Red Bay, Diesel decreased by 28.7 cents per litre, putting the price at...
Feb 23, 2022 · For the first time in 11 weeks, fuel prices are going to drop in Newfoundland and Labrador. Analyst Dan McTeague says gas will go down by 1.5 cents tomorrow with diesel also going down but by an even greater margin—3.3 cents.
stove oil heating fuel on the Island will decrease by 5.48 cpl; stove oil heating fuel in Labrador will decrease by 6.30 cpl; and, propane heating fuel will decrease by 1.5 cpl. These maximum prices reflect the change in the average benchmark price of the products over the current pricing period.
Jul 28, 2022 · In Labrador, gas prices are now $2.35 in the Straits, $2.39 in the south, $2.16 in central Newfoundland, $2 in the west and $2.02 in Churchill Falls. Diesel is increasing by 0.6 cents per litre...
