July 31, 2001 The Island Regulatory and Appeals Commission announced today that the following decreases in all products in petroleum wholesalers' dealer and consumer pricing schedules have been authorized: Ultramar Ltd. by 3.1 cpl (cents per litre), Shell Canada Products Limited by 2.9 cpl, Imperial Oil Limited by 3.1 cpl, Irving Oil Limited by 3.1 cpl, Petro-Canada by 3.5 cpl and Co-op Atlantic by 2.6 cpl. These price changes are based on recent crude-related pricing applications and market-related conditions. Irving Oil Limited received approval to decrease by 3.2 cpl, and Superior Propane Inc. received approval to decrease by 3.0 cpl, all propane prices contained in their respective propane pricing schedules based on decreased product acquisition costs.All pricing adjustments become effective at 12:01 a.m. on Wednesday, August 1, 2001.For additional information, contact: Harry MacDonald at (902) 892-3501.Media Contact: Island Information Service