INDEPENDENT NEWS

BP's Petrol Price Rise "A Bit Rich" Says Shell

Published: Wed 24 Nov 1999 06:38 PM
MEDIACOM-RELEASE-SHELL-NZ
BP'S PETROL PRICE RISE "A BIT RICH" SAYS SHELL
Shell New Zealand said BP's two cent petrol price increase was a "bit rich" given the company's announcement last week that there was no need for more petrol price increases.
Shell Communications Manager, Antonius Papaspiropoulos, says BP was being irresponsible, and needed to treat motorists with more respect.
"Shell has been saying for weeks that petrol price increases were inevitable given OPEC's decision to limit the release of oil stocks beyond March next year. This, coupled with a harsh winter in the Northern Hemisphere, would continue to push prices up."
Prices are now the highest they have been since the Gulf War, says Mr Papaspiropoulos.
"There is a need for an increase as we outlined last week, and we will review prices over the next day or two."
Ends....
MEDIA RELEASE FROM SHELL NEW ZEALAND
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