Shell again moves first to pass on savings

SHELL NEW ZEALAND

Media Statement

For Immediate Release

13 August 2002

Shell again moves first to pass on savings Shell New Zealand today announced it was reducing the price of both grades of petrol by 3 cents per litre, effective midnight tonight, with the fluctuating New Zealand currency, crude prices and market conditions combining to make this reduction possible.

"This will lead to a reduction at the pump of up to three cents per litre in many parts of New Zealand with a new prevailing price of 102.9 cents per litre for 91 octane, and 107.9 cents per litre for 96 octane.

Where intense competition has already seen prices fall, motorists may not see any adjustment to price at their local Shell outlet," Shell's Retail Manager Bruce Emson said.

"Shell is once again delighted to be able to deliver to its customers the best possible prices to New Zealand motorists. We monitor prices everyday, to ensure we are meeting that commitment fully," Mr Emson said.

ENDS