Prices Fall at BP

News Release
14 September 2009

Prices Fall at BP

The price of petrol and diesel fell today with BP decreasing the price by 3 cents per litre.

BP Managing Director Mike McGuinness says BP is pleased to be able to pass on another decrease at the pump.

``We are able to pass on a decrease today because of the strengthened US exchange rate and a slight decrease in the international cost of refined fuels.’’

``BP monitors both costs and the exchange rate daily and is committed to passing on the benefits of the both the higher dollar and lower product costs 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.

Prices at most BP owned service stations have dropped to 162.9 cents per litre for Unleaded 91 and 103.9 cents per litre for diesel.

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.

ENDS

© Scoop Media