PETROLEUM PRICING

Charlottetown, Prince Edward Island, July 31, 2007 — The Island Regulatory and Appeals Commission announced today the following petroleum pricing decisions, effective August 1, 2007:

• Gasoline prices will decrease by 2.0 cents per litre (cpl);
• There will be no changes to furnace oil, stove oil, diesel or propane prices at this time.

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 101.7 cpl to 103.2 cpl.

In announcing the price adjustment, the Commission noted that relative global geo-political stability combined with improved refinery performance has had a positive influence on commodity market prices and has enabled further reductions in gasoline prices at this time.

The Commission's next scheduled price adjustment will be on August 15, 2007.