Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


BP Lifts Petrol Prices Four Cents

BP Oil New Zealand Ltd is lifting the price of petrol by four cents a litre at its company-owned service stations from 2pm today.

The increase takes prices at most BP company-owned service stations in the main centres to $1.079 (Unleaded 91) and $1.12.9 (Premium Unleaded). Diesel prices will not change.

BP will also lift its wholesale prices - what privately-run BP service stations pay for fuel - by four cents from midnight tonight.

Today’s increase is due to high crude oil costs, increases in already-refined petrol and the weak NZ dollar.

BP last increased its petrol prices by five cents on 16 May. Since then, the market for ready-made fuel has jumped from NZ$69 per barrel to due to NZ$76. BP imports about half of its petrol ready-refined.

Crude oil costs also rose from NZ$57 to $58 per barrel in the past week.

BP’s Managing Director Peter Griffiths said he deliberated long and hard before coming to the reluctant decision that BP had no choice but to increase its prices.


© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>