Newfoundland legislation would regulate fuel prices
ST. JOHN’S, Nfld. (April 12, 2001) — Newfoundland has introduced a bill to regulate the price of gasoline, diesel fuel, and propane sold in the province. The legislation, based on a regulatory regime in Prince Edward Island, would allow the province’s government services and energy ministries to fine retailers or wholesalers who exceed maximum prices set by a government-appointed commissioner.
The legislation could be made law before the long weekend in May, which traditionally marks the summer travel season.
Energy Minister Lloyd Matthews said the intent is to keep prices stable, not to push them lower. Fuel prices in Newfoundland are typically higher than the national average, although they are only marginally higher than in most provinces when provincial fuel taxes are removed.
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