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

 

High world oil costs felt at NZ pumps

News Release
19 September 2001

High world oil costs felt at NZ pumps

Rising oil prices and the faltering NZ dollar have forced BP to lift petrol and diesel prices from midnight tonight (19 September).

BP’s Managing Director Peter Griffiths said BP was reluctantly increasing wholesale petrol prices nine cents a litre and diesel three cents a litre.

It is BP’s first fuel price rise in almost five months.

From midnight, prices at most BP owned service stations will be $1.12.9 for Unleaded 91 petrol, $1.17.9 for Premium Unleaded petrol and 80.9 cents for diesel. Regions with price discounting may see larger pump price increases.

Since August 20 this year, refined petroleum product prices on the Singapore market – the key market determining New Zealand fuel prices – have jumped the equivalent of 12 NZ cents a litre for petrol and 10 cents for diesel. Crude oil prices also rose in the same period.

Mr Griffiths said last week’s tragic events in the United States have added to the volatility of fuel prices, and we will have to accept movement in the market until things settle down internationally.
OPEC has said it would maintain current production levels, helping allay fears of fuel shortages in the aftermath of last week’s events.

- ends -

BP’s media releases can be found at www.bp.co.nz

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech