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BP Drops Fuel Prices – 4th Time in 4 Weeks

News Release
31 October 2001

BP Drops Fuel Prices – 4th Time in 4 Weeks

BP today dropped its petrol and diesel prices by two cents a litre at its company owned service stations – the fourth price drop this month.

The decrease takes place with immediate effect at BP’s company owned service stations. BP will lower its wholesale price (what it charges independent BP service stations for fuel) at midnight tonight. Independent BP service stations set their own prices.

Prices in the main cities drop to about 97.9 cents for Unleaded 91 petrol, about $1.02.9 for Unleaded Premium, and about 69.9 cents for diesel. Areas already enjoying discount prices will not be affected by today’s decrease.

These are the lowest petrol prices motorists have paid in the past 18 months. This time last year motorists paid about $1.16 for a litre of Unleaded 91petrol.

Since September 25 this year, petrol prices have fallen 15 cents, and diesel by 11 cents.

BP Managing Director Peter Griffiths said falling crude oil and fuel product prices in the wake of economic downturn are behind today’s drop.

“It is nice to be able to announce some good news instead of the gloomy economic predictions we keep hearing.”

Mr Griffiths promised motorists that BP would continue to drop its price whenever possible.

- ends -

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