Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Shell Cuts Petrol Prices By One Cent

MEDIACOM-RELEASE-SHELL-NEW-ZEALAND

SHELL CUTS PETROL PRICES BY ONE CENT

Shell is cutting petrol prices by one cent effective from midnight tonight (30 March 2000).

Shell Oceania Communications Manager, Antonius Papaspiropoulos, says the move is in response to OPEC's decision to release 1.7 million barrels of oil per day onto world markets - equivalent to a seven per cent increase in world production.

"The early signs are good, and while we are waiting for markets to stabilise, we believe we can pass on some early benefits to customers."

Overnight strengthening of the New Zealand dollar also prompted Shell's decision, Mr Papaspiropoulos says.

Shell is optimistic that today's announcement will be the first of many.

"Shell has certainly not enjoyed raising prices over recent months, but has had no choice due to the Organisation of Petroleum Exporting Countries stranglehold over world oil supplies. All signs are that oil prices are now on the decline, so Shell will ensure that its customers are the first to reap the benefits."

Ends

MEDIA RELEASE FROM SHELL NEW ZEALAND

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>

ALSO:

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO: