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- 4.7 per cent in 2022, as higher spending on oil projects will be mitigated by lower mining-related investment and the completion of construction at Muskrat Falls.
www.gov.nl.ca/fin/files/2022-Economic-Update.pdf2022 Economic Update - Government of Newfoundland and Labrador
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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.
Mar 25, 2022 · The northeast Avalon is set at $1.65 per litre, central Newfoundland is $1.69, Corner Brook area is $1.66, Stephenville is $1.69 and the Northern Peninsula is $1.67. Stove heating oil increased by...
Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. 2022-23; 2021-22; 2020-21; 2019-20; 2018-19; 2017-18; 2016-17; Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration
- An Uncertain Future
- Future Fund
- An Improved — But Volatile — Situation
Coady said the improved situation has resulted in all three of the provincial government's credit agencies moving their outlooks for Newfoundland and Labrador from negative to stable. Oil prices are higher than projected — up from $86 US per barrel to $102 per barrel — and production is up, from 83.1 million barrels to 85.2 million barrels. Total p...
Coady announced the provincial government will contribute $157 million to a fund it will eventually use to pay down debt. Last week, the provincial government announced details of legislation to create what it's calling a "future fund," where it plans to deposit a portion of oil royalties and revenues from the sale of assets over $5 million. Accord...
Coady said the province is seeing "solid" signs of economic growth, but she pointed to rumbles of a global economic recession that could signal potential future difficulties. The provincial government previously hinted at the improved outlook when it announced one-time cheques for residents who earn $125,000 or less would be delivered this fall. Co...
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.
The changes to maximum fuel prices, except for Labrador Zone 12, are as follows: all types of gasoline motor fuel will increase by up to 1.2 cents per litre (cpl); diesel motor fuel will increase by up to 2.8 cpl; furnace oil heating fuel will increase by 2.38 cpl;
• 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.
