BP drops fuel prices for the third time in a week

BP drops fuel prices for the third time in a week

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

BP Managing Director Peter Griffiths said crude prices have continued to decline in the last week, but warned that prices could still go either way in the next few weeks.

“With the development of hostilities in the Middle East, international prices are likely to be increasingly volatile. We continue to urge motorists to take advantage of lower prices while they can.”

Mr Griffiths said BP was continuing to deliver on its promise to pass on the benefits of lower crude prices to motorists as quickly as possible. Motorists have seen a decrease of 9 cents at the pump in the last week.

Petrol prices at most BP owned service stations have dropped to $1.069 per litre for Unleaded 91, $1.119 for Premium Unleaded and 66.9 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 see a smaller decrease.

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