PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, June 30, 2003 — The Island Regulatory and Appeals Commission announced today that approved gasoline prices for the month of June will continue in effect for the month of July, 2003.  Therefore the minimum and maximum allowable gasoline pump prices will not change from their current levels, and the average maximum price of regular unleaded gasoline at self-serve outlets will remain at 69.9 cents per litre (cpl). 

Wholesalers have been authorized to decrease the prices of all diesel products in their dealer and consumer schedules by 0.7 cpl, and to decrease the prices of furnace fuel and stove oil by 0.6 cpl. 

Irving Oil Limited received approval to increase, by 0.9 cpl, and Superior Propane Inc. received approval to increase, by 0.8 cpl, 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 Tuesday, July 1, 2003.

Click here for published prices effective July 1, 2003