PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, August  31, 2004 — The Island Regulatory and Appeals Commission announced today that effective September 1, 2004, gasoline prices will not change from their current levels and, therefore, the average maximum pump price of regular unleaded gasoline at self-serve outlets will remain at 88.7 cpl.  The Commission did announce, however, that wholesalers have been authorized to increase diesel prices in their dealer and consumer schedules by 3.8 cents per litre (cpl), and to increase furnace and stove oil prices by 3.4 cpl. 

In addition, Irving Oil Limited received approval to increase, by 3.9 cpl, and Superior Propane Inc. received approval to increase, by 3.8 cpl, all propane prices contained in their respective propane pricing schedules based on increases in product acquisition costs.

All pricing adjustments become effective at 12:01 a.m. on Wednesday, September 1, 2004.

Click here for published prices effective September 1, 2004