PETROLEUM PRICING

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

• Gasoline prices will increase by 5.0 cents per litre (cpl);
• Furnace and stove oil prices will increase by 2.0 cpl;
• Diesel prices will increase by 4.5 cpl;
• Propane prices will decrease  by 2.2 cpl for Superior Propane, 1.4 cpl for Irving Energy Distribution and Marketing and by 4.0 cpl for Kenmac Energy Inc.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 97.2 cpl to 99.3 cpl.

Significant escalation in wholesale spot market pricing over the past two weeks has necessitated the pricing adjustments announced today.

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

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