BP dropped fuel prices a further 3 cents

BP dropped fuel prices a further 3 cents

BP dropped the price of petrol and diesel on Friday for the second time that week, by three cents a litre 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 few days, but warned that prices could go either way in the next few weeks.

“With the commencement of hostilities in the Middle East, international prices are likely to be increasingly volatile. We 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.

Petrol prices at most BP owned service stations have dropped to $1.099 per litre for Unleaded 91, $1.149 for Premium Unleaded and 69.9 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 not see a price change, or may see a smaller decrease.

© Scoop Media