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Jun 6, 2024 · Fuel prices in Newfoundland will increase if the province's Public Utilities Board follows through on proposed changes outlined in a new review of the industry. It's what Newfoundland and...
- 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...
Dec 21, 2023 · The price of gasoline, diesel and stove oil in Labrador are up due to rising costs for suppliers tied to federal clean fuel regulations, according to Newfoundland and Labrador's Public...
Apr 28, 2022 · Gas prices are up on the island and in Labrador but only by 0.9 cents per litre. It’s the same for diesel on the island with a 1.2 cent increase, but in Labrador, it will cost 31.7 cents less to fuel up. Furnace heating fuel goes up by 1.11 cents a litre province-wide while stove oil goes up by 4.16 cents on the island and down by 27.56 cents ...
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 $2.56 per...
Aug 11, 2022 · The most expensive gas in the province is in Labrador, in areas where price adjustments have been suspended by the regulator. Gas is nearly $2.40 per litre on Labrador's south coast, $2.35 in...
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