Petroleum Pricing Adjustments

The Island Regulatory and Appeals Commission announced today that decreases of 5.2 cents per litre (cpl) in all gasoline products and 2.2 cpl in diesel fuel, furnace and stove oil have been authorized. These price changes are based on recent crude-related pricing applications and market-related conditions.

Irving Oil Limited received approval to decrease by 0.7 cpl, and Superior Propane Inc. received approval to decrease by 0.9 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 Saturday, December 1, 2001.

Media Contact: Island Information Service