Petrol prices tumble below $1

20 November 2002
News Release

Petrol prices tumble below $1

BP has dropped the price of petrol to below $1 a litre - the lowest it has been in eight months.

Effective immediately, BP has shaved two cents a litre off petrol and diesel prices at its company owned and operated service stations nationwide.

The wholesale price (the amount it charges privately owned BP service stations) will drop by two cents at midnight tonight. (Privately owned service stations set their own pump prices).

BP operated service stations in the main cities will now charge 99.9 cents per litre of Unleaded 91 petrol, $1.04.9 for Premium Unleaded, and 61.9 cents for diesel. Prices were last at this level in March.

BP Managing Director Peter Griffiths said it was BP’s third price drop in a fortnight bringing down petrol and diesel prices by six cents a litre.

”Motorists are enjoying the benefits of low world oil costs and a strong New Zealand dollar.”

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