Shell Slashes Petrol Prices Twice In A Week
Shell New Zealand led petrol prices down by 1 cent across all grades this afternoon.
Shell, which led prices down last Thursday, says the move is in anticipation of falling international prices for crude oil.
Shell Oceania Communications Manager, Antonius Papaspiropoulos, says a fall in the price of finished fuel over the weekend has allowed the Company to pass on further benefits to customers.
"Shell is taking a risk with the latest price reduction, but last week's decision by OPEC to release further supplies of oil onto world markets bodes well, and is expected to result in lower crude prices. While the market is yet to stabilise, we believe we can pass on some early savings to motorists. It is Shell's desire to see petrol prices fall within the one dollar range as soon as possible."
The latest reduction means that average prices in the main centres a $.98.9 cents for 91 octane, $1.03 for 96 octane, and 65.5 cents for diesel.