Charlottetown, Prince Edward Island, 29 October 1999 — The Island Regulatory and Appeals Commission announced today that applications for crude oil cost-related increases have been approved by the Commission. Shell Canada Products Limited has been authorized to increase by 4.4 cents per litre, Petro-Canada by 4.1 cents per litre, Ultramar Ltd., Imperial Oil Limited and Irving Oil Limited by 4.2 cents per litre the prices of all products contained in their dealer and posted consumer schedules. Co-Op Atlantic also received approval to increase all dealer and posted consumer prices by 4.2 cents per litre based on the increases granted its supplier and Wilson Fuel Co. Limited received approval to increase its dealer prices by 4.2 cents per litre. Notwithstanding these approvals and based on the most recent data available, Prince Edward Island’s prices for gasoline products continue to be significantly lower than the average prices of these products in almost all other areas of Canada. Irving Oil Limited received approval to increase its current propane prices by 3.5 cents per litre based on increased product acquisition costs. All pricing adjustments become effective at 12:01 a.m. on Monday, 1 November 1999. Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals will be published shortly. —30— For Additional Information Posted: 99/11/02 |
