Petroleum Pricing Adjustments

The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related increases have been approved by the Commission. Ultramar Ltd., Imperial Oil Limited and Irving Oil Limited have been authorized to increase by 2.0 cents per litre, Shell Canada Products Limited and Petro-Canada by 2.3 cents per litre and Co-op Atlantic has been authorized to increase by 2.5 cents per litre the prices of all products contained in their dealer and posted consumer schedules. Wilson Fuel Co. Limited received approval to increase its dealer prices by 2.3 cents per litre. While various components make up the total cost of petroleum products, the allowable increases noted above relate to increased crude oil prices.

All pricing adjustments become effective at 12:01 a.m. on Monday, 1 May 2000.

Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals will be published shortly.