31 Jul 2008

Shell cuts retail fuel prices

12:41 pm on 31 July 2008

Shell has cut 4 cents a litre off the domestic retail price of all its fuels.

The price of 91 octane petrol is now $2.02.9 per litre and 95 octane is $2.07.9 per litre. Diesel is $1.79.9 per litre.

It's the second price cut by Shell in a week. There have been three cuts in the past fortnight.

The company says it's passing on a recent decline in crude oil prices.

However, US crude rose 83 cents to $US123.02 by 1519 GMT on Wednesday - compared to a low of $US120.42 on Tuesday, the lowest since 6 May. London Brent rose 56 cents to $US123.27.

Oil is down from a record high of $US147.27 on 11 July.