April 29, 1998 The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related decreases have been approved by the Commission. Ultramar Ltd., Shell Canada Products Limited, Imperial Oil Limited, Irving Oil Limited and Wilson Fuel Co. Ltd., have been authorized to decrease by 2.7 cents per litre, and Petro-Canada has been authorized to decrease by 2.8 cents per litre the prices of all products contained in their dealer and posted consumer schedules. Co-op Atlantic also received approval to decrease its prices by 2.7 cents per litre based on the decreases granted its supplier. In addition, the Commission approved a simultaneous increase in the price of low sulphur diesel fuel to Petro-Canada dealers of 0.9 cents per litre as a result of an application requesting a non-crude related increase of 1.3 cents per litre. Irving Oil Limited received approval to decrease its propane prices by 1.3 cents per litre (with the exception of that sold through cylinder exchange centres), based on decreased acquisition costs. All pricing adjustments become effective at 12:01 a.m. on Friday, 1 May 1998. Media Contact: Island Information Service