May 7, 1998 The Island Regulatory and Appeals Commission announced today that approval has been granted to Imperial Oil Limited to reduce the prices of all grades of gasoline sold under its dealer tank truck pricing schedule by 1.5 cents per litre. The lower prices become effective at 12:01 a.m. on Friday, 8 May 1998. Imperial cited existing market conditions as the reason for the application to reduce these prices. Media Contact: Island Information Service