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


Employment:Slow Track For Most Contentious Labour Law

The government will announce a timetable for legislating a range of long-signalled labour law changes but is placing its intention to introduce new Fair Pay Agreement legislation on a slower track to allow consultation with both employers and trade unions. More>>


NZ's Space Programme: Rocket Lab's Successful Launch

Science Media Centre: Rocket Lab successfully launched its Electron rocket and deployed satellites into orbit Sunday afternoon, a milestone for the company and New Zealand's fledgling private space industry. More>>


BusinessDesk: Body massages and Uber are in, DVDs are out, says Stats NZ

Statistics New Zealand has rejigged the consumers price index basket in its latest three-year review, adding body massages, Airbnb and Uber and removing DVD and Blu-Ray players…More>>


StuffMe: Commerce Commission Welcomes Dismissal Of Merger Appeal

In a summary of their judgment released today, Justice Dobson and lay member Professor Martin Richardson dismissed the appellants’ process criticisms and found the Commission was entitled to place significant weight on the prospect of reduced quality of the products produced by the merged entity. More>>


Digital Futures: New Chief Technology Officer Role Created

Communications Minister Clare Curran has called for expressions of interest for the new role of Chief Technology Officer position to help drive a forward-looking digital agenda for New Zealand. More>>

Real Estate: NZ house sales slump in December but prices still firm

The number of property sales across New Zealand slumped 10 percent in December from a year earlier but prices continued to lift, according to the Real Estate Institute. More >>