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New Zealand City: Fuel price hike expected says Shell (ShellNews.net)

Oil company not surprised production problems in Russia can drive up world fuel prices-expected to happen here too

31 July 2004

It is no surprise to one major oil company that production problems in Russia can drive up world fuel prices.

US light crude has hit a new all-time high, closing at $US43.80 a barrel. The price is tipped to hit $US45 soon.

Shell spokesman Simon King says a range of international events can affect world prices.

He says events in the Middle East can affect it as well as disruption to supplies in Russia.

Mr King says it is inevitable the latest increase will be reflected in prices at home.