June 27, 1997 The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related decreases have been approved by the Commission. Petro-Canada has been authorized to decrease by 1.5 cents per litre, Shell Canada Products Limited and Ultramar Canada Inc. have been authorized to decrease by 1.4 cents per litre, and Imperial Oil Limited and Irving Oil Limited have been authorized to decrease by 1.3 cents per litre the prices of all products in their dealer and posted consumer pricing schedules. Co-op Atlantic also received approval to decrease its prices by 1.3 cents per litre based on the decreases granted its supplier. In addition, Irving Oil Limited was authorized to decrease the cost of propane, with the exception of that sold through cylinder exchange centres, by 0.8 cpl based on reduced propane acquisition costs. All pricing adjustments are effective at 12:01 a.m. on Tuesday, 1 July 1997. For additional information, contact H. Doris Pursey at (902) 892-3501. Media Contact: Island Information Service Island Information Service