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World Events Force Petrol Prices Up

World Events Force Petrol Prices Up

Shell New Zealand today announced it was increasing the price of both grades of petrol and diesel by 3 cents per litre, amid worker strikes affecting the Venezuelan oil industry and continued fears of a possible war on Iraq.

The increase is effective at 10.00pm tonight (24 December).

Shell's Retail Manager Bruce Emson says world oil prices remained unstable. “It is with great reluctance that we have had to increase our prices as a result of continued talk of military action against Iraq and worker strikes affecting Venezuelan oil production.

Shell is monitoring the situation daily and we remain committed to bringing New Zealanders the best possible fuel prices.”

Mr Emson said Shell wanted to ensure motorists could fill up their tanks at the cheaper price before going on holiday.

"The price increase is an unfortunate impact of international events. We want to give motorists a chance to fill up at the cheaper price before they travel to be with their families at Christmas."

The new prices at most Shell service stations from 10.00pm tonight will be 112.9 cents per litre for 96 octane, 107.9 cents per litre for 91 octane and 69.9 cents per litre for diesel.

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