May 12, 1998 The Island Regulatory and Appeals Commission announced today that approval has been granted to Petro-Canada to reduce the prices of all grades of gasoline sold under its dealer tank truck pricing schedule by 1.4 cents per litre. The lower prices become effective at 12:01 a.m. on Wednesday, 13 May 1998. Petro-Canada cited market conditions as the reason for the application to reduce these prices.Media Contact: Island Information Service