Petrol Price Falls Again at BP

5 December 2008
News Release

Petrol Price Falls Again at BP

The price of petrol fell again today with BP decreasing the price by a further 4 cents per litre.

This is BP’s fourth price decrease in the last month, with petrol falling a total of 23 cents per litre in that period. Petrol is now the cheapest it has been since February and has fallen 79 cents per litre since July this year.

Diesel prices at the pump have also dropped. Diesel is now 116.9 per litre. This represents a decrease in price of 70 cents a litre since July this year.

BP Managing Director Peter Griffiths says the change is due to continued decreases in the international price of refined petrol.

“BP monitors these costs daily and is committed to passing on the benefits of lower product prices to motorists as quickly as possible.”

Pump prices in New Zealand are determined by the international price of refined petrol and diesel (purchased in US dollars), the US/NZ exchange rate, taxes and levies, international shipping costs and local operational costs.

Petrol prices at most BP owned service stations have dropped to 139.9 cents per litre for Unleaded 91.

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Notes:
There are over 100 independently-owned BP service stations in New Zealand.
They buy their fuel off BP at a wholesale price and by law must set their
own pump prices.

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