Gull Holds Fuel Prices

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Gull Holds Fuel Prices

Petrol savings of around 6 cents per litre at most Gull sites

Auckland, 19 May 2009 – Gull New Zealand is holding its fuel prices today after the four oil giants increased prices yesterday by approximately 5 cents per litre for petrol and 3 cents per litre for diesel.

The most common price for fuel at the outlets of the four oil giants is now $1.639 for Regular 91 and $1.019 for Diesel.

“We refused to move yesterday as the market was not right,” says Dave Bodger, General Manager of Gull in New Zealand. “We have looked at international prices today and deem that a move would still be premature.
ays, Gull will take its time and look to review the market again tomorrow morning, but today’s prices will not be above $1.579 for Regular 91 and $0.979 for diesel.  Some sites are further discounted below this, giving the Kiwi motorist the opportunity to get that extra fill up,” says Bodger.
 
Bodger adds, “Both the Kiwi dollar and the price of refined fuel are very volatile on a day-to-day basis. It could well be that these work out in favour of lower prices in the next 24 hours.  It would not be fair to the public if we increase prices for a couple of days just to bring them down again. If current market factors remain, an increase is likely, but Gull will hold fuel prices while it can.”

Prices noted are effective at the majority of retail sites where Gull controls the fuel price.

ENDS

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