AFX Europe (Focus): Shell lowers prices in Argentina after presidential pressure: “Almost a month ago, Kirchner called for Argentines to boycott Shell after it announced a 4.2 percent hike in fuel prices amid signs of rising inflation in the country.” (ShellNews.net) 7 April 05

BUENOS AIRES (AFX) - Anglo-Dutch oil company Shell gave in to pressure from President Nestor Kirchner, announcing yesterday it had agreed to lower its prices on some products in Argentina.

Almost a month ago, Kirchner called for Argentines to boycott Shell after it announced a 4.2 percent hike in fuel prices amid signs of rising inflation in the country.

Shell responded yesterday by announcing it was lowering the price of gasoline at the pump by 3.3 percent, while leaving diesel prices at their higher rate. Esso, part of the ExxonMobil group, rescinded its price hike on diesel fuel a day earlier.

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