April 30, 2001 The Island Regulatory and Appeals Commission announced today that applications for crude and non-crude oil cost-related adjustments have been approved by the Commission. The changes announced at this time are based on world crude oil prices for the month of March and non-crude issues. Wholesalers have been authorized an increase in the prices of all products contained in their dealer pricing schedule by 2.0 cents per litre. In the consumer schedule, gasoline prices will increase by 2.0 cpl, and diesel, stove oil and furnace fuel will decrease by 1.0 cpl from their current prices. Irving Oil Limited received approval to decrease by 6.4 cpl and Superior Propane Inc. received approval to decrease by 8.5 cpl all propane prices contained in their propane pricing schedules based on decreased product acquisition costs. Irving's delivered price on portable cylinders increased by 4.5 cpl to cover increased transportation costs. All pricing adjustments become effective at 12:01 a.m. on Tuesday, May 1, 2001. Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals will be published shortly.Media Contact: Island Information Service