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


Trees: Surge Funding For Kauri Dieback And Myrtle Rust Research

“The $13.75 million investment announced today will mean that scientists can begin critically important research into kauri dieback and myrtle rust. It is vital that we get this work underway now to ensure that we combat these two pathogens and protect these taonga species." More>>


In Time For The Cup: Spark Sets 5G Date, Without Any Spectrum

Spark chief executive Simon Moutter has a big hairy audacious goal, to get the company's 5G mobile network up and running by July 2020 ... More>>


Mesh Mess: Commerce Commission To Appeal Steel & Tube Sentence

The Commission has today filed an appeal against the sentence imposed on Steel and Tube Holdings Limited (Steel & Tube) for false and misleading representations about steel mesh products. More>>

"Bipartisan Inaction": Rapid Rent Increases

The median nationwide rent has gone up $20 a week over the past two month, a rapid increase that is part of an upward trend overseen by both Labour and National Governments... More>>