PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, December 31, 2005 — The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to increase gasoline prices in their dealer and consumer schedules by 2.5 cents per litre (cpl) effective 12:01 a.m. on Sunday, January 1, 2006.

Pump prices for regular unleaded gasoline at self-serve outlets will now range from 98.2 cpl to 99.8 cpl.

In addition, increases in propane prices of between 0.2 cpl and 2.5 cpl have been authorized.

Heating fuel and diesel oil prices will not be adjusted at this time.

In announcing the price increases, Commission Chair Moe Rodgerson indicated that recent increases in gasoline and propane commodity prices have necessitated price adjustments at this time.

The Commission’s next scheduled price adjustment will be on January 15, 2006.

Click here for published prices effective January 1, 2006