PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, December 31, 2003 — The Island Regulatory and Appeals Commission announced today that gasoline prices will not change from their current levels at this time and, therefore, the average maximum pump price of regular unleaded gasoline at self-serve outlets will remain at 69.8 cents per litre (cpl).  The Commission did announce, however, that wholesalers have been authorized to increase diesel prices in their dealer and consumer schedules by 1.5 cpl, and to increase furnace and stove oil prices by 2.3 cpl. 

In addition, Irving Oil Limited received approval to increase, by 0.6 cpl, and Superior Propane Inc. received approval to increase, by 1.0 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 Thursday, January 1, 2004.

Click here for published prices effective January 1, 2004