PETROLEUM PRICING ADJUSTMENTS

Charlottetown, Prince Edward Island, January 14, 2006 — The Island Regulatory and Appeals Commission announced today that wholesalers have been authorized to increase petroleum prices in their dealer and consumer schedules by 3.0 cents per litre (cpl) on gasoline, and by 1.0 cpl on diesel fuel, furnace and stove oil, effective 12:01 a.m. on Sunday, January 15, 2006.

Pump prices for regular unleaded gasoline at self-serve outlets will now range from 101.4 cpl to 103.0 cpl.

In making the announcement, the Commission indicated that a combination of recent events including lower than normal gasoline inventory levels, continued strong global demand and a variety of worldwide geopolitical tensions have resulted in increased prices on international commodities exchanges. The only moderating influence has been the existence of milder than normal weather which has served to limit the upward pressure on furnace oil prices.

The Commission’s next scheduled price adjustment will be on February 1, 2006.

Click here for published prices effective January 15, 2006