Petrol Price Continues to Fall at BP

10 November 2008

Petrol Price Continues to Fall at BP

The price of fuel continues to fall with BP today decreasing the price of petrol by a further 5 cents per litre.

This is BP’s third price decrease in the last 8 days, with petrol falling a total of 15 cents per litre, since November 3rd.

BP Managing Director Peter Griffiths says the change is due to continued decreases in the international price of refined petrol.

``BP monitors these costs daily and is committed to passing on the benefits of lower product prices to motorists as quickly as possible.’’

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 is now the cheapest it has been since October 2007.

Petrol prices at most BP owned service stations have dropped to 157.9 cents per litre for Unleaded 91.

ENDS

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