January 27, 1998 The Island Regulatory and Appeals Commission announced today that approval has been granted to Irving Oil Limited to reduce the prices of all products sold under its dealer tank truck pricing schedule. The reduction in the price of low sulphur diesel is 2.0 cents per litre and the reduction in the prices of all grades of gasoline is 0.7 cent per litre. The lower prices become effective at 12:01 am on Wednesday, 28 January 1998. The reason for this application was related to current market conditions. Media Contact: Island Information Service