Petrol Prices Up / Down / Up / Down

Media Release For Immediate Release

Petrol Prices Up / Down / Up / Down
Confused? Don’t be – Gull to hold prices while majors get their collective act together

Auckland, 12 October 2012 – Motorists will have noticed several of the oil giants raising and lowering their petrol prices over the last week. Putting prices up for a half day and then down, then up and then down again. Finally everyone except Gull seems to have moved up 3 cents per litre with regular petrol at most oil major service stations now selling at $2.179 per litre

Gull prices have remained unchanged and are now 6c a litre below the opposition and will remain so until next week.

It’s called ‘flagging’, says Dave Bodger, General Manager of Gull New Zealand.

“You want to put your price up, but none of the major opposition follow you so you put prices down, and then do it again the next day – up and down. Then you wait for one of the others and ‘flag’ back by doing the same thing and then you can see well perhaps its ‘safe’ to go up. Safety in numbers is the key for the big boys.

“At Gull we take a simple approach. We work on how to keep the price down, no plastic cards to get your discount, not loyalty points towards your next toaster - just plain and simple low prices and additional savings with Countdown supermarket vouchers.

“To our competitors we say, if your price needs to go up, put it up and get on with it. Gull is happy with is prices, so ours will stay as they are – for now at least. We will have another look on Monday and review our pricing position then,” says Bodger.

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About Gull
Gull New Zealand is the independent oil company that is credited with keeping the fuel market competitive and giving savings to the Kiwi motorist. It has become a serious player, offering a real choice for motorists in an extremely competitive market. The company remains today a family owned operation.

Gull New Zealand was founded in 1998 by the Rae family who saw the need and potential for an independent energy supplier. Adherence to a philosophy of low cost management, prudent investment decisions and a carefully planned marketing strategy commenced with the building of a state of the art terminal in Mount Maunganui in 1998. Tanks were relocated from Marsden Point by barge, a feat the opposition said was “impossible”.

Gull New Zealand made the first retail sales of petrol in 1999 and has grown the network to over 40 branded sites.

Gull has been a first mover in introducing innovative new products to the New Zealand energy market. These include low sulphur diesel bringing environmental benefits well ahead of the opposition, as well as New Zealand’s first biofuel, Gull Force 10 (a 10% ethanol mixed with premium gasoline giving higher octane and cleaner performance).

2010 saw Gull achieve another first and extend its environmental focus with release of Gull Diesel Max, a high quality bio diesel blend sourced from sustainable New Zealand vegetable oil.

Gull now has four service stations that only sell bio fuels which is another first for New Zealand.

For more information please visit www.gull.co.nz

ENDS

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