PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, 30 November 2000 — The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related decreases have been approved by the Commission.  The changes announced at this time are based on world crude oil prices for the month of October.  Wholesalers have been authorized to decrease the prices of all products contained in their dealer and posted consumer schedules as follows:  Ultramar Ltd. by 1.2 cpl (cents per litre), Shell Canada Products Limited by 1.3 cpl, Imperial Oil Limited by 1.3 cpl, Irving Oil Limited by 1.3 cpl, Petro-Canada by 1.4 cpl and Co-op Atlantic by 1.1 cpl.

Irving Oil Limited received approval to increase by 0.3 cpl all propane prices contained in its pricing schedules based on increased product acquisition costs. 

All pricing adjustments become effective at 12:01 a.m. on Friday, 1 December 2000.

Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals will be published shortly.

Click here for published prices effective 1 December, 2000