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Shell leads market - takes petrol below a dollar!

SHELL NEW ZEALAND

Media Statement
For Immediate Release
20 November 2002


Shell leads market again - takes petrol below a dollar!

Shell New Zealand today announced a further petrol price reduction of 2 cents per litre on both grades of petrol and diesel, effective immediately.

This reduction reflects continuing volatility in world oil pricing based on the fragile political situation in the Middle East and cyclical northern hemisphere demand patterns .

This latest reduction, the second by Shell this week, brings the price of 91 octane below a dollar per litre for the first time this year.
Shell's wholesale rate, the price at which it sells fuel to its Independent network will reduce at midnight tonight.

The new price at the pump for most Shell service stations throughout the country will now be 99.9 cents for 91 Octane, 1.04.9 cents for 96 Octane petrol and 61.9 cents for Diesel. Today's price reduction does not apply in those areas where discounting has already seen prices fall "Shell is committed to passing on benefits of lower fuel prices to its customers wherever possible. We monitor prices everyday to ensure we are meeting that commitment fully," Shell Retail Manager Bruce Emson said

ENDS

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