Petroleum Pricing Adjustments

The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to decrease all gasoline prices in their dealer and consumer schedules by 1.4 cents per litre (cpl). Effective January 1, 2005, the average maximum pump price of regular unleaded gasoline at self-serve outlets will be 81.6 cpl. The Commission also announced that approved prices for the month of December for diesel, furnace fuel and stove oil will continue in effect for the month of January, 2005.

In addition, Irving Oil Limited received approval to decrease, by 2.7 cpl, and Superior Propane Inc. received approval to decrease, by 2.6 cpl, all propane prices contained in their respective propane pricing schedules based on decreases in product acquisition costs.

All pricing adjustments become effective at 12:01 a.m. on Saturday, January 1, 2005.

For additional information, contact Allison MacEwen, Island Regulatory and Appeals Commission at (902) 892-3501.

Media Contact: Island Information Service