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

 

BP reluctantly raises fuel prices


News Release

19 April 2001

BP reluctantly raises fuel prices

BP is encouraging motorists to take advantage of its lower fuel prices before midnight tomorrow (Friday, 20 April) when it will lift its prices.

BP Managing Director Peter Griffiths said high world oil costs gave BP no choice but to increase its wholesale petrol and diesel price by 5 cents a litre.

Regions that benefited most from discount pricing in recent months would see larger pump price increases than others.

However, Mr Griffiths said BP delayed the increase as long as possible to give customers a chance to fill up for less.

“All the factors which push prices up – crude and refined petrol and diesel costs, shipping costs and the exchange rate - are against us right now.”

Prices at most BP owned service stations in the main cities will rise to $1.13.9 for Unleaded 91 and $1.18.9 for Premium Unleaded and 74.9 cents for diesel.

Mr Griffiths said recent discount pricing and price promotions were due to fierce rivalry between competitors, and did not reflect higher world oil costs.

“It seems that the local price wars we have seen recently are over – at least for now.”

Mr Griffiths said that the petrol industry remained highly competitive and it was anyone’s guess as to what would happen next.

He reaffirmed that BP would quickly drop its prices back again once global oil costs steadied.

- ends -

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Income Equality: Time To Double-Down On Cutting CEO Salaries

With reports of a slow-down in CEO pay rises last year, it’s time for Kiwi corporates to double down on cutting excessive salaries to ensure this is a trend not an accident, said Peter Malcolm, spokesperson for the income equality project Closing the Gap. More>>

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO: