PETROLEUM PRICING

Charlottetown, Prince Edward Island, July 14, 2007 — The Island Regulatory and Appeals Commission announced today the following petroleum pricing decisions, effective July 15, 2007:

• Gasoline prices will increase by 2.5 cents per litre (cpl);
• Diesel prices will increase by 1.0 cpl;

• Furnace fuel and stove oil prices will increase by 1.0 cpl; and
• There will be no changes to propane prices at this time.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 108.0 cpl to 109.6 cpl.

Geopolitical events including persistent civil strife in Nigeria, recent terrorism-related activities in the United Kingdom, ongoing production-related interruptions in North American refinery operations and continued steady growth in global demand for petroleum products have influenced commodity market prices over the past two weeks.