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BP drops fuel prices 3 cents

BP drops fuel prices 3 cents

BP has today dropped the price of petrol and diesel by three cents a litre due to lower crude prices as oil traders speculate on a quick war in Iraq.

BP Managing Director Peter Griffiths said crude prices have dropped NZ$6 in the past five days, but warned that prices could go either way in the next few weeks.

Mr Griffiths said BP was keeping its promise to pass on the benefits of lower crude prices to motorists as quickly as possible.

“What happens next to prices depends on what happens in the Middle East, but motorists should prepare for a lot of volatility.”

Petrol prices at most BP owned service stations have dropped to $1.129 per litre for Unleaded 91, $1.179 for Premium Unleaded and 72.9 cents for diesel.

BP will drop its wholesale price to independently-owned BP service stations by three cents a litre from midnight tonight.

Regions already enjoying discount pricing may not see a price change.

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