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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...
117.08. Excluding Applicable Taxes. Propane. Base Zone. 101.9. Excluding Applicable Taxes. Current Maximum Pricing: Motor Fuel - Heating Fuel. Maximum Pricing All Zones. 2022-23 Petroleum Products Pricing Review.
- 1 Fuel Price Update Synopsis
- 2 Fuel Prices
- 3 Impact of Fuel Prices on Reimbursement Rates
Corporate Fleet Services (CFS) has been mandated by the Treasury Board of Canada Secretariat to perform the Annual evaluation of per-kilometre Reimbursement Rates for government employees that are required to use their personal vehicles while performing government business. Furthermore, the periodic impact of varying fuel prices is to be evaluated ...
2.1 Energy Market Context
Over the past three months, global crude oil prices have been rising steadily, reaching their highest levels since 2014. Oil prices were at a three-month low on December 1st, 2021 when West Texas Intermediate (WTI) was at $65.57 USD per barrel and Brent stood at $68.87 USD per barrel. Since then, both have been on a relatively steady upward trend recording a period maximum on February 14th, 2022 with WTI reaching $95.46 USD per barrel and Brent $96.48 USD per barrel, an increase of 45.6% and...
2.2 Gasoline Prices Across Canada
After a significant decline between September and November of 2021, gasoline prices, similar to crude, have been on the rise since early December, reaching record levels by early February 2022. This rise in prices is quite unusual for winter months as winter-grade gasoline is less expensive to produce than summer-grade. This year however, other factors have played a more important role in the fuel price hike. The rising crude oil prices, diminishing inventories as well as a generally strong d...
2.3 Sales Taxes
For the current Update, research was performed to see if there were any relevant changes to Federal and Provincial sales taxes that could have an immediate impact on the Reimbursement Rates. As of the date of this Update, no changes were observed in sales taxes anywhere in Canada as compared to the previous Annual Report. Moreover, no changes are foreseen at this time for the immediate future.
3.1 Fuel Consumption
In calculating the fuel costs contribution to the total vehicle operating costs, the methodology employed in the Annual Report was strictly adhered to. Fuel consumption for every vehicle model in the study was thus combined with average prices per Province or Territory to determine the fuel portion of operating costs, based on an average of 20,000 kilometres per year.
3.2 Updated Reimbursement Rates
For comparison, the following table provides updated Travel and Commuting Rates, as well as rates previously calculated for the Annual Report (November 2021, for publication on January 1st, 2022): Current Fuel Update Reimbursement Schedule (in dollars per kilometre) Note: All figures were rounded up to the nearest half-cent. The impact of gasoline prices on the Reimbursement Rates was minimal for the present Fuel Update. In comparison with the Annual Report (November 2021, for publication on...
Dec 21, 2023 · The prices of gasoline and diesel are up in Labrador due to rising costs for suppliers tied to federal clean fuel regulations, according to Newfoundland and Labrador's Public Utilities...
Note: Price adjustment notices are issued Wednesday each week around 2:00 p.m. If you have not received the weekly pricing notice by 3:00 p.m. on any Wednesday you should immediately contact the Board toll free at 1-866-782-0006
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...
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NEWFOUNDLAND AND LABRADOR 2020 Labrador Petroleum Products Pricing Review Consultation Paper October 16, 2020 This consultation paper is being released for stakeholder comment and feedback to assist in the Board’s review of the regulation of the maximum price of petroleum products in Labrador.
