PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, April 30, 2005 — The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to increase the prices in their dealer and consumer schedules by 2.6 cents per litre (cpl) on gasoline, and by 1.4 cpl on diesel.  Furnace and stove oil prices will remain unchanged.  Effective May 1, 2005 the average pump price of regular unleaded gasoline at self-serve outlets will be 97.0 cpl.

In addition, Irving Oil Limited received approval to increase, by 1.2 cpl, and Superior Propane Inc. received approval to increase, by 0.5 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 Sunday, May 1, 2005.

Click here for published prices effective May 1, 2005