PETROLEUM PRICE ADJUSTMENTS


Charlottetown, Prince Edward Island, 30 October 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., Imperial Oil Limited and Irving Oil Limited have been authorized to increase by 1.1 cents per litre, Shell Canada Products Limited by 1.0 cent per litre and Petro-Canada by 1.2 cents per litre the prices of all products contained in their dealer and posted consumer schedules. Wilson Fuel Company Ltd. received approval to increase its dealer prices by 0.9 cent per litre. Co-Op Atlantic also received approval to increase all dealer and posted consumer prices by 1.1 cents per litre based on the increases granted its supplier.

All applications were approved on the basis of crude oil costs, and all pricing adjustments become effective at 12:01 a.m. on Sunday, 1 November 1998.

Allowable pump prices and posted consumer prices of furnace fuel resulting from these approvals are being published shortly.

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For Additional Information
Contact: H. Doris Pursey
(902) 892-3501

See Related Public Notice

Posted on Web: 98/11/02