Petroleum Pricing Adjustments

The Island Regulatory and Appeals Commission announced today that a decrease of 3.0 cents per litre in all products in petroleum wholesalers' dealer and consumer pricing schedules has been authorized. These price changes are based on recent crude-related pricing applications and market-related conditions.

Propane prices will remain at current levels as product acquisition costs have only had minimum changes since prices were last approved.

Pricing adjustments become effective at 12:01 a.m. on Thursday, November 1, 2001.

Media Contact: Island Information Service