Oil giant says biofuel could cost Kiwi motorists millions

New rules requiring oil companies to meet specific targets for the sale of biofuels or face massive fines are under attack from Shell.

The oil giant says proposed mandatory targets outlined by the Ministry of Transport last week could increase the cost of petrol and diesel by at least 5c a litre.

“That would mean New Zealanders will be paying an extra $300 million a year for their fuel,” Shell NZ general manager Jim Collings said.