PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, April 30, 2002 — The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to increase the prices of gasoline by 5.0 cents per litre and to increase the prices of diesel, furnace and stove oil from 2.3 to 3.3 cents per litre, in their dealer and consumer schedules.  Effective May 1, 2002 the average maximum pump price of regular unleaded gasoline at self-serve outlets will be 71.5 cents per litre.

Irving Oil Limited received approval to increase, by 2.0 cents per litre, and Superior Propane Inc. received approval to increase, by 3.6 cents per litre, all propane prices contained in their respective propane pricing schedules based on increased product acquisition costs.

All pricing adjustments become effective at 12:01 a.m. on Wednesday, May 1, 2002.

Click here for published prices effective May 1, 2002