Stuff.co.nz (New Zealand): Petrol prices drop 5c per litre: “Shell was the first to announce cuts this morning, saying today's drop, effective at 9am, reflects a drop in world oil prices at the weekend. (ShellNews.net) 6 Dec 04

06 December 2004 

Shell, BP, Caltex and Mobil are cutting petrol prices by 5c a litre.

Shell was the first to announce cuts this morning, saying today's drop, effective at 9am, reflects a drop in world oil prices at the weekend.

It means 91 Octane petrol will be 113.9c a litre. The price for 96 Octane is 118.9c per litre, and diesel 74.5c per litre.

Today's drop comes on top of a 2c per litre decrease in petrol prices from oil companies last week.

Shell communications manager Simon King said the decrease reflects world product prices.

"The price of oil fell US71c at the weekend to just under $US43 per barrel," he said.

Oil prices had fallen quickly in recent weeks but Mr King said it was difficult to predict if further reductions on the international market were likely.

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