PETROLEUM PRICE ADJUSTMENTS
Edward Island, 29 June 1998 - The Island Regulatory
and Appeals Commission announced today that applications for crude oil cost-related
increases have been approved by the Commission. Ultramar Ltd. and Imperial Oil Limited have
been authorized to increase by 0.5 cent per litre, and Irving Oil Limited, Shell Canada
Products Limited and Petro-Canada have been authorized to increase by 0.4 cent
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 0.5 cent per litre based on the crude oil-related increases granted its
supplier. Co-Op Atlantic received further authorization for offsetting decreases in
its posted consumer prices of gasolines and diesel in amounts ranging from 0.3 cent per
litre to 3.3 cents per litre based on competitive factors.
Irving Oil Limited received
approval to decrease its propane prices by 0.5 cent per litre (with the exception of that
sold through cylinder exchange centres). Superior Propane Inc. received approval
for price reductions amounting to 2.3 cents per litre. Both applications cited decreased
product acquisition costs as the reason for the requested decreases.
All pricing adjustments
become effective at 12:01 a.m. on Wednesday, 1 July 1998.
For Additional Information
Contact: H. Doris Pursey
See Related Public Notice
Posted on Web: 98/07/02