Acts and Regulations

2015-61 - Petroleum Products Pricing Act

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NEW BRUNSWICK
REGULATION 2015-61
under the
Petroleum Products Pricing Act
(O.C. 2015-277)
Filed November 27, 2015
1Section 2 of New Brunswick Regulation 2006-41 under the Petroleum Products Pricing Act is amended
(a) by repealing the definition “base product” and substituting the following:
“base product” means(produit de base)
(a) a petroleum product or type of petroleum product set out in Schedule A or A.1 for which a price is indicated by Platts, Argus or Bloomberg, as the case may be, or
(b) a petroleum product or type of petroleum product referred to in subsection 4.1(1).
(b) by repealing the definition “daily reference price” and substituting the following:
“daily reference price” means(prix de référence quotidien)
(a) with respect to conventional gasoline, the mid price for the corresponding base product;
(b) with respect to E10 gasoline, ultra-low sulphur diesel fuel or furnace oil, the sum of the mid prices or the daily product prices, as the case may be, for each of the corresponding base products, multiplied by the relevant percentage set out in Schedule A or A.1 or referred to in subsection 4.1(2), as the case may be, of the base product.
(c) in the definition « prix de référence hebdomadaire » in the French version by striking out “carburant diesel à faible teneur en soufre” and substituting “carburant diesel à très faible teneur en soufre”.
2Section 4 of the Regulation is amended
(a) in subsection (1)
(i) in paragraph d) of the French version by striking out “carburant diesel à faible teneur” and substituting “carburant diesel à très faible teneur”;
(ii) by repealing paragraph (f) and substituting the following:
(f) for propane - the average for the seven-day period immediately preceding each Wednesday of the daily prices for the corresponding base product.
(b) by repealing subsection (2) and substituting the following:
4(2)The price data for a product referred to in paragraph (a) of the definition “base product” in section 2 for any day on which no price data necessary to determine a benchmark price is published shall be deemed to be the price data most recently published.
3The Regulation is amended by adding after section 4 the following:
Base products
4.1(1)If a petroleum product or type of petroleum product is not set out in Schedule A or A.1, the Board may determine that the product is a base product for the purposes of this Regulation.
4.1(2)For the purposes of paragraph (b) of the definition “daily reference price” in section 2, the Board shall determine the relevant percentage for a product referred to in subsection (1).
4Section 6 of the Regulation is amended
(a) in subsection (1)
(i) in the portion preceding paragraph (a) by striking out “The Board” and substituting “Subject to subsection (1.1), the Board”;
(ii) in paragraph d) of the French version by striking out “carburant diesel ultra à faible teneur en soufre” and substituting “carburant diesel à très faible teneur en soufre”;
(b) by adding after subsection (1) the following:
6(1.1)Subsection (1) does not apply on a Tuesday or on a day when the percentage set out in Schedule A.1 for a base product changes.
(c) by repealing subsection (6).
5Schedule A of the Regulation is repealed and the attached Schedule A is substituted.
6Schedule A.1 of the Regulation is repealed and the attached Schedule A.1 is substituted.
SCHEDULE A
Petroleum Product(s)
Base product(s)
Regular grade gasoline
Conventional gasoline
Unleaded 87 - AAMIT00
E10 gasoline
Ethanol - AAMPF00
 
10%
CBOB - AAWBL00
90%
Propane
Bloomberg U.S. Propane Contract Postings (Sarnia/Plains*) (in Canadian cents per litre)
 
SCHEDULE A.1
Month
Motor fuel
Ultra-low
sulphur diesel
 
 Heating fuel
Furnace oil
Base
product
% Platts
ULS Kero - AAVTI00
Base
product
% Platts
ULSD - AATGX00
Base
product
% Argus
SME Chicago
fob
B100
Base
product
% Platts
ULS Kero - AAVTI00
Base
product
% Platts
ULSD - AATGX00
January
83.3
  14.7
2
77
  23
February
80.4
  17.6
2
75
  25
March
63.7
  34.3
2
54
  46
April
0
98
2
  0
100
May
0
98
2
  0
100
June
0
98
2
  0
100
July
0
98
2
   0
100
August
0
98
2
   0
100
September
22.5
  75.5
2
23
  77
October
58.8
  39.2
2
62
  38
November
78.4
  19.6
2
76
  24
December
83.3
  14.7
2
77
  23