New Zealand: Shell Support for Petrol Pricing Enquiry
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Tuesday, 17 June 2008 |
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Shell is promising to co-operate with the Government's independent study on petrol pricing.
General Manager Mark Forsyth says the company recognises people are concerned and affected by the price of fuel. He
says the company has been considering ways to improve people's
understanding of how petrol pricing works. Mr Forsyth says the make up
of the pump price includes the impact of crude oil prices, exchange
rates and Government taxes.
Oil companies will have their pricing structures scrutinised by a New Zealand Government-ordered inquiry.
The move comes after fuel prices reached record highs, sending the price of petrol to more than $2.10 a litre.
Commerce Minister Lianne Dalziel said this week that she
was looking forward to the oil industry explaining to the public,
through the inquiry, "why it takes so long for price decreases in crude
oil to come through to the New Zealand petrol pump and why it is so
quick to get the price increases through".
She said independent consultants would also examine similarities and
differences between fuel markets in New Zealand and Australia, which is
about to extend the geographic reach of a scheme requiring oil
companies to give motorists advance notice of price rises.
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