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BP Drops Price Again

News Release

20 October 2008


BP Drops Price Again

BP is pleased to have today dropped the price of petrol again by a further five cents a litre due to continued decreases in the international price of refined petrol.

BP Managing Director Peter Griffiths said ``BP will keep passing on the benefits of lower product prices to motorists as quickly as possible. However, the international market situation is still very volatile, we will continue to monitor prices on a daily basis.’’

Pump prices in New Zealand are determined by the international price of refined petrol and diesel (purchased in US dollars), the US/NZ exchange rate, taxes and levies, international shipping costs and local operational costs.

Petrol prices at most BP owned service stations have dropped to 176.9 cents per litre for Unleaded 91.

ENDS

Notes:
There are over 100 independently-owned BP service stations in New Zealand.
They buy their fuel off BP at a wholesale price and by law must set their
own pump prices.

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