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Newfoundland and Labrador
Petroleum Products Regulations (Amendment) (Filed Under the authority of section 23 of the Petroleum Products Act, the Lieutenant-Governor in Council makes the following regulations. Dated at Gary Norris REGULATIONS Analysis 1.
S.2 Amdt. 2.
S.4 Amdt. 3.
S.9 Amdt. 4.
S.14 Amdt. 5. Sch. R&S NLR 79/01 1. Paragraph 2(a) of the Petroleum Products Regulations is repealed and the following substituted: (a) "Act" means the Petroleum Products Act; (a.1) "benchmark" means, with respect to a type, grade or component of heating fuel or motor fuel, (i) the reported product price assessment by Platts and by Bloombergs in the case of propane, and as set out in the Schedule, and (ii) notwithstanding subparagraph (i), with respect to mid-grade and premium unleaded gasoline, the product price assessment for Unl 87; 2. (1) Subsection 4(1) of the Regulations is amended by deleting the word "and" at the end of paragraph (c), by deleting the period at the end of paragraph (d) and substituting a semi-colon and the word "and" and by adding immediately after paragraph (d) the following: (e) any information which the board determines is necessary in relation to the administration of the Act and these regulations. (2) Subsection 4(2) of the Regulations is amended by deleting the word "and" at the end of paragraph (d), by deleting the period at the end of paragraph (e) and substituting a semi-colon and the word "and" and by adding immediately after paragraph (e) the following: (f) any information which the board determines is necessary in relation to the administration of the Act and these regulations. (3) Subsection 4(3) of the Regulations is amended by deleting the word "and" at the end of paragraph (f), by deleting the period at the end of paragraph (g) and substituting a semi-colon and the word "and" and by adding immediately after paragraph (g) the following: (h) any information which the board determines is necessary in relation to the administration of the Act and these regulations. 3. Section 9 of the Regulations is amended by adding immediately after subsection (1) the following: (1.1) The benchmark price for a motor fuel or
heating fuel that is a combination of liquid products distilled from petroleum
shall be the sum of the benchmark price calculated under subsection (1) for
each product multiplied by the percentage by which each product is a component
of the motor fuel or heating fuel, which percentage shall be determined by the
board. 4. (1) Subsection 14(2) of the Regulations is repealed and the following substituted: (2) For each type of motor fuel and heating fuel, the benchmark price shall be adjusted to be the average of the average of the daily high and low product prices for the benchmark, as reported in Platts or Bloombergs, during the period immediately following (a) the date on which the benchmark price was first established by the board; or (b) where the benchmark price has been previously adjusted, the date of which the benchmark price was last adjusted. (2) Section 14 of the Regulations is amended by
adding immediately after subsection (2) the following: (2.1) Notwithstanding subsection (2), the benchmark price for mid-grade and premium unleaded gasoline shall be adjusted to be the sum of the benchmark price for Unl 87 adjusted in accordance with this section plus (a) 3 cents per litre for mid-grade unleaded gasoline; and (b) 6 cents per litre for premium unleaded
gasoline. (2.2) Notwithstanding subsection (2), the benchmark
price for a motor fuel or heating fuel that is a combination of liquid products
distilled from petroleum shall be adjusted to be the sum of the benchmark price
adjusted in accordance with this section for each product multiplied by the
percentage by which each product is a component of the motor fuel or heating
fuel, which percentage shall be determined by the board. (2.3) Notwithstanding the other provisions of this
section, where the board determines that an alternate pricing methodology would
result in a benchmark price for a type of motor fuel or heating fuel which is
more reasonably reflective of the cost of the fuel for or within a zone in
Labrador in which there is an approved price freeze, the board may establish an
alternative pricing methodology, including a different benchmark price adjustment
schedule for that type of motor fuel or heating fuel. (3) Subsection 14(5) of the Regulations is repealed and the following substituted: (5) When making an adjustment under this section, the board may compel relevant information from a wholesaler or retailer, in a form prescribed by the board, and may hold a hearing where it considers one is desirable. 5. The Schedule to the Regulations is repealed and
the following substituted: Schedule
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