AAP General News (Australia)
08-22-2000
NSW: Shell denies 8c a litre hike overnight
Oil giant Shell has denied petrol prices across Sydney have jumped by eight cents a
litre overnight, but it admits there's been an average four cents a litre hike in under
24 hours.
However, Shell's senior economist PETER HARRIS insists the jump, which has unleaded
petrol soaring to 99.9c a litre, is not a case of profiteering.
Mr HARRIS says Shell makes one-fifth of what the government takes on petrol through
the GST and an increase in federal government excise.
He says the company has been making just 3.1 cents a litre for the last two weeks while
it absorbed the increase in government taxes as well as jump in the price of crude oil
and the regional price.
The New South Wales government has accused oil companies of arrogance as some stations,
particularly in Sydney's north, ask $1.05 a litre.
AAP RTV dmc/maur/rsm/jn
KEYWORD: PETROL ( SYDNEY)
2000 AAP Information Services Pty Limited (AAP) or its Licensors.
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