Gull Holds Fuel Prices

For Immediate Release

Gull Holds Fuel Prices

Auckland, 17 January 2011 – Gull has this afternoon committed to holding their fuel prices until at least Wednesday. This is in contrast to price increases by several of the oil giants.

David Bodger, Gull General Manager, says that while the price per barrel is increasing in cost, exchange rates are higher thus reducing the need to raise prices now.

“Both are volatile, but this does not equate to any immediate need to slap on another price increase. Gull is about providing value to the Kiwi motorist and we stand by this philosophy,” says Bodger.

“International refining margins are placing additional pressure on the barrel price, refinery operators are making a killing. Those who own refineries (including the oil giants) are doing very well right now. The difference between the price of crude barrels and refined barrels has been at consistently high levels for some time now,” he says.

At the majority of Gull outlets where Gull controls retail prices, prices are as follows:

Gull Regular Plus (91 Octane) $1.959
Gull Regular (91 Octane) $1.969
Gull Force 10 (98 Octane) $2.109
Gull Diesel Max (5% biodiesel blend) $1.319
Gull Low Sulphur Diesel $1.329

Gull’s increasing network of unmanned sites will offer a further discount on these prices

ENDS

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