BP Gives Motorists Early Christmas Present

BP has slashed its national wholesale petrol and diesel prices in the wake of a firmer New Zealand dollar and lower crude oil costs.

Today, BP dropped its wholesale fuel prices by 6 cents a litre taking BP’s prices at most of its service stations in the main cities to $1.13.9 for Unleaded 91, $1.18.9 for Premium Unleaded and 86.9 cents for diesel.

Most cities, including Auckland, Christchurch and Dunedin, have already seen some or all of this price reduction over the past week. Therefore, price movements in these cities will vary accordingly.

BP’s Managing Director Peter Griffiths said it’s wonderful news for motorists, especially as they approach Christmas holidays.

“The lower crude prices and our stronger dollar couldn’t have come at a better time for motorists after a turbulent year for fuel pricing.”

Mr Griffiths said today’s price cut reflects BP’s ongoing commitment to passing on the benefits of lower international prices.

“BP has led 11 of the past 15 nationwide price drops,” he said.

Crude and refined product prices have dropped by between NZ$12-15 since BP’s last price change on November 20. This is largely due to expectations of increased production of oil by Saudi Arabia.

Most of these cost reductions have occurred this week.

The stronger New Zealand dollar – today at 42.1 cents against the US dollar - is also helping push prices down.

Mr Griffiths said he hopes motorists will continue to reap the benefits of the current downward trend on petrol and diesel prices into the New Year.

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Jane Diver
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