Update on fuel prices from Shell New Zealand
Shell New Zealand has reviewed its fuel prices today, and will increase petrol and diesel by 4 cents per litre, effective 11.30am.
"We kept our prices down overnight in the hope that we would see a big reduction in the crude oil spike, and a stabilising of the NZ dollar. Unfortunately the NZ dollar remains lower and we have seen no respite from the increasing barrel price. We have had no choice but to increase prices, but we have keep the increase as low as possible because we understand Kiwis are hurting by rising fuel prices."
Shell produces only 3% of the world's crude oil, and is subject to market fluctuations in price and supply. Overnight, the barrel price continued its upward trend, rising another US $5 to US$136.
national pump prices are:
• Shell Ultra 91 210.9
• Shell V-Power (95) 215.9
• Shell Diesel 183.9