Shell lowers fuel prices despite surging crude oil prices

PT Shell Indonesia, an Indonesian unit of Anglo-Dutch energy firm Royal Dutch/ Shell Plc, has lowered the prices of its high octane gasoline despite the sharp increase in the prices of crude oil in the international market.

With the new price, the prices of the Shell Super 92 and Shell Super Extra were lowered to Rp 6,250 and Rp 6,650 a liter, down from Rp 6,650 and Rp 7,050. The Shell Diesel price remains the same at Rp 6,850 a liter.

The new price took effect November 6, less than a week after the company raised the retail prices for its gasoline on November 1.

Shell's spokesman Fathia Syarif acknowledged that the cut in the fuel prices was made amid the tight competition from other distributors of the non-subsidized fuels. Pertamina for example kept the prices of its high-octane fuels Pertamax, Pertamax Plus and Pertamina Dex and Bio Pertamax unchanged when Shell raised its fuel prices on November 1. (*)