A dual velocity method for measuring flow rate of a fluid within a conduit, independent of flow regime, the fluid having a plurality of components where at least one of the plurality of components is capable of existing in an oil continuous phase emulsion in the conduit, the method comprising: a. measuring a chosen number of fluid electrical properties in the fluid flow using a plurality of sensors (21, 22, 23, 24); b. outputting said fluid electrical properties to a calculator; c. determining a dispersed phase fluid velocity by cross-correlating a first periodic signal from a first pair of sensors with a second periodic signal from a second pair sensors, wherein the second pair of sensors is located at a predetermined distance downstream from the first pair of sensors and, the second periodic signal is captured after a predetermined time delay after the capture of the first periodic signal; d. determining a free gas slug velocity in said flow by cross-correlating a third periodic signal from a third pair of sensors with a fourth periodic signal from a fourth pair of sensors, wherein the fourth pair of sensors is located at a predetermined distance downstream from the third pair of sensors and, the fourth periodic signal is captured after a predetermined time delay after the capture of the third periodic signal; characterized in that the method further comprises: e. determining a water cut using a first predetermined mathematical relationship between the measured fluid electrical property signals; f. determining a dispersed gas fraction using a second predetermined mathematical relationship between the measured fluid electrical property signals; g. determining a dispersed water fraction using a third predetermined mathematical relationship between the determined dispersed gas fraction and the determined water cut; h. determining a free gas fraction using a fourth predetermined mathematical relationship between the measured fluid electrical property signals; i. determining a fraction of time in which fluid flow is in slug flow; and j. determining a fluid component volumetric flow rate using a fifth predetermined mathematical relationship between the determined component phase fractions, the determined component phase velocities, the fraction of time the fluid is in slug flow, and a predetermined conduit characteristic. a. measuring a chosen number of fluid electrical properties in the fluid flow using a plurality of sensors (21, 22, 23, 24); b. outputting said fluid electrical properties to a calculator; c. determining a dispersed phase fluid velocity by cross-correlating a first periodic signal from a first pair of sensors with a second periodic signal from a second pair sensors, wherein the second pair of sensors is located at a predetermined distance downstream from the first pair of sensors and, the second periodic signal is captured after a predetermined time delay after the capture of the first periodic signal; d. determining a free gas slug velocity in said flow by cross-correlating a third periodic signal from a third pair of sensors with a fourth periodic signal from a fourth pair of sensors, wherein the fourth pair of sensors is located at a predetermined distance downstream from the third pair of sensors and, the fourth periodic signal is captured after a predetermined time delay after the capture of the third periodic signal; e. determining a water cut using a first predetermined mathematical relationship between the measured fluid electrical property signals; f. determining a dispersed gas fraction using a second predetermined mathematical relationship between the measured fluid electrical property signals; g. determining a dispersed water fraction using a third predetermined mathematical relationship between the determined dispersed gas fraction and the determined water cut; h. determining a free gas fraction using a fourth predetermined mathematical relationship between the measured fluid electrical property signals; i. determining a fraction of time in which fluid flow is in slug flow; and j. determining a fluid component volumetric flow rate using a fifth predetermined mathematical relationship between the determined component phase fractions, the determined component phase velocities, the fraction of time the fluid is in slug flow, and a predetermined conduit characteristic.