PETROLEUM PRICING

Charlottetown, Prince Edward Island, June 1, 2009 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Monday, June 1, 2009:

• Gasoline prices will increase by 5.5 cents per litre (cpl);
• Propane prices will decrease by 0.7 cpl for both Irving Energy Distribution and Marketing and Kenmac Energy Inc., and by 1.0 cpl for Superior Plus Inc.; and
• There will be no change in diesel, furnace and stove oil prices at this time;

Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 100.4 cpl to 102.5 cpl.

Continued escalation in wholesale gasoline prices has necessitated a price adjustment at this time.

The Commission's next scheduled price adjustment will be on June 15, 2009.

 —30—