PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, June 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 3.6 cents per litre (cpl) on gasoline and by 4.0 cpl on diesel, furnace and stove oil.  Effective July 1, 2005, the average pump price of regular unleaded gasoline at self-serve outlets will be 97.9 cpl.

In addition, Irving Oil Limited received approval to decrease, by 0.4 cpl, and Superior Propane Inc. received approval to decrease, by 0.5 cpl, all propane prices contained in their respective propane pricing schedules based on decreases in product acquisition costs.

All pricing adjustments become effective at 12:01 a.m. on Friday, July 1, 2005.

Click here for published prices effective July 1, 2005