Worldwide Fears Of Iraqi War Force Petrol Prices U

Shell New Zealand

Media Statement
For Immediate Release
20 December 2002

Worldwide Fears Of Iraqi War Force Petrol Prices Up

Shell New Zealand today announced it was increasing the price of both grades of petrol and diesel by 2 cents per litre, amid mounting fears of possible war on Iraq. The increase is effective immediately.

Shell's Retail Manager Bruce Emson says talk of a US-led offensive on Iraq was pushing up oil prices worldwide.

"Talk of military action against Iraq has driven up the price of crude to near 22 months highs. We are reluctant to increase our prices, but we are monitoring the situation daily and we remain committed to bringing New Zealanders the best possible fuel prices."

Mr Emson said Shell attracted many customers yesterday and this morning who benefited from the 10-cent discount day.

"As the originator of the 10-cent discount day, Shell was delighted to be able to give motorist a chance to fill up at a discounted price in time for Christmas."

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