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Shell Delays Price Increases (5 cents and 2 cents)

Tuesday 23 January 2001

Media Statement from Shell New Zealand

Shell Delays Price Increases (five cents and two cents)

Despite spiralling international oil costs, Shell is only raising petrol and diesel prices by five cents and two cents respectively – with increases delayed for 24 hours.

From midnight on Wednesday (24 January), Shell will increase 91 and 96 fuel grades by five cents, and diesel by two cents (all GST inclusive) to cover the additional costs it has been absorbing over the past fortnight.

Shell Communications Manager, Antonius Papaspiropoulos, says the Company has only passed on the “bare minimum” increase to customers, and external forces have played only a small part in today’s announcement.

“International trends speak for themselves. We are following an alternative path. This is a reflection of the risk we are prepared to take to grow new business and reward customers who have been flocking to Shell over the holiday season.”

Shell says it is extremely conscious that any increase is not good news, but it hopes that customers recognise that the Company kept the size of the increase as small as possible.

“We view price as the number one issue in the New Zealand fuels sector, so we will continue to pour our energies into delivering better fuel prices into the future.”

Shell started a deliberate and aggressive marketing campaign to win new business over the Christmas period. This included two consecutive discount days which were initiated by Shell, and saw prices plunge by 10 cents a litre.

The Company says it has been thrilled with customer response to its pricing initiatives and Shell would continue to strive harder to maintain customer support.

“While customers remain loyal to us, we remain committed to delivering better prices every day.”

Ends


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