PETROLEUM PRICING

Charlottetown, Prince Edward Island, October 24, 2012 — The Island Regulatory and Appeals Commission approved the following petroleum pricing decisions, effective 12:01 a.m., Wednesday, October 24, 2012:

• Gasoline prices will decrease by 7.5 cents per litre (cpl);
• There will be no change in diesel, furnace oil, stove oil or propane prices at this time.

Including adjustments for taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 121.0 cpl to 122.0 cpl.

Significant reductions in the wholesale price of gasoline observed since October 15^th now afford the Commission the opportunity to implement the above described unscheduled product price reduction.

The Commission's next scheduled price adjustment will be on November 1, 2012

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