Petroleum Pricing Adjustments
Edward Island, 31 December 1997 - The Island Regulatory and
Appeals Commission announced today that applications for crude oil cost-related increases
have been approved by the Commission. Ultramar Ltd., Imperial Oil Limited and Wilson Fuel
Co. Limited have been authorized to increase by 1.1 cents per litre, Irving Oil Limited
and Shell Canada Products Limited have been authorized to increase by 1.2 cents per litre,
and Petro-Canada has been authorized to increase by 1.4 cents per litre the prices of all
products contained in their dealer and posted consumer schedules. Co-Op Atlantic also
received approval to increase its prices by 1.1 cents per litre based on the increases
granted its supplier.
In addition, the Commission
approved a request by Wilson Fuel Co. Limited to concurrently reduce its price of diesel
fuel to dealers by 3.0 cents per litre due to market conditions, for a net decrease in its
previously-approved price of 1.9 cents per litre. Ultramar Ltd. also sought and received
approval to concurrently decrease its posted consumer price of furnace fuel by 0.1 cpl and
its prices of all grades of gasoline to dealers by 0.4 cpl.
Irving Oil Limited received
approval to increase its propane prices by 1.1 cents per litre (with the exception of that
sold through cylinder exchange centres), based on increased acquisition costs.
All pricing adjustments become
effective at 12:01 a.m. on Thursday, 1 January 1998.
For Additional Information
Contact: H. Doris Pursey
Posted on Web: 12/31/97