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Shell and Mobil said yesterday they would cut petrol and diesel charges, following a price war initiated by rival Caltex at the weekend.

 The move will bring Shell's prices for leaded and unleaded petrol down by 12 per cent to $9.41 and $9.15 a litre respectively. Diesel is dropping by 15 per cent to $4.75 a litre. The new prices are only available at 11 of Shell's 61 stations.

 Shell's director for Hong Kong and Macau, Robert Young, said: 'These discounts go far beyond what can be justified by reductions in import prices . . . such discounts cannot be sustained on a long-term basis.'  Mobil Oil Hong Kong said it was also cutting 12 per cent from unleaded and leaded petrol prices and 15 per cent off diesel at some stations.

 The Consumer Council welcomed the changes, but said prices for liquefied petroleum gas (LPG) should also come down.

 'Oil companies have been slightly responsive lately, but the one area where we don't see downward adjustments is LPG,' said council chairwoman Anna Wu Hung-yuk.

 The retail price for LPG is $8.45 a litre, although the import price fell by 43.8 per cent last year.

 Secretary for Economic Services Stephen Ip Shu-kwan said at the start of the month that there should be cuts in LPG prices.

 The council will look at the market structure for distribution of petroleum products and ask the Government to examine its tendering procedures for petrol stations and its licensing policy.

 Council chief executive Pamela Chan Wong Shui said: 'The present system is a vertical system - from importer to oil companies to end-users; we need to see if that is to the advantage of consumers.'  Welcoming the petrol price cuts, Mr Ip said: 'This is a result of competition. I hope that there will still be room for further price reductions.' 



Caltex petrol price cuts bring rivals to heel