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Shell Forced To Move On Petrol Price

11 February 2001

International Conditions Force Shell To Move On Petrol Price - But Motorists
Given Chance To Fill Up In Advance!

Tight international oil supply conditions have forced Shell to increase the price of both grades of petrol by 5 cents per litre (incl GST) and diesel by 3 cents per litre (incl. GST), effective from midnight Tuesday 12th February, giving motorists a window of opportunity to fill up before prices
go up.

Shell's Retail Manager Bruce Emson said that a number of international conditions had made the price rise necessary.

"A significant fire in a major Kuwait refinery has put the squeeze on refined product supplies worldwide while at the same time OPEC has further restricted supply of crude oil which has resulted in increased costs.

"While we have been able to protect motorists from the impact of these influences this situation is unsustainable, and so we have reluctantly had to put the price up.

"Shell is always striving to give customers the best possible deal as has been seen by our leadership in price reductions throughout 2001, and so we are giving motorists advance warning about the price rise, to allow our customers to get in first to beat the price rise.

"Shell remains committed to bringing the New Zealand motorist the cheapest possible fuel prices and we will continue to monitor the price situation daily," Mr Emson said.

From Midnight tomorrow (Tuesday) the prevailing price at most main center locations will become $1.03 cents per litre for Premium 96 and $0.98.9 cents per litre for Ultra 91, and $0.62.9 cents per litre for diesel.

ENDS

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