Petrol companies scramble to meet BP's big fuel rise

Motorists will have to recalculate holiday budgets after BP's fuel price rise was matched by its rivals.

On Monday, BP raised the price of unleaded and premium unleaded petrol in main centres by 5c a litre to 119.9c and 124.9c.

Diesel now costs 7c more, at 92.9c.

Shell said yesterday that it also had been forced to increase prices but would not move until midday today, giving customers a chance to fill up before then.

Shell spokesman Antonius Papaspiropoulos said the company was trying to be responsible in the face of seesawing petrol prices by warning motorists.

Shell's increases would match BP's rises.

Mobil said its prices would start rising by the same amount as BP's from this morning.

Higher crude costs and fluctuations in the New Zealand dollar led to the rises.

Caltex pricing manager Drew Cowley said prices were being reviewed and a decision would be made this morning.

The latest price rises come just 10 days after BP led a round of price cuts.

BP managing director Peter Griffiths said further price rises could not be ruled out, with demand for fuel increasing as the Northern Hemisphere prepared for winter.

The Automobile Association says the latest rise is the 23rd since July, when petrol was selling in main centres for an average of 79.9c and 84.9c.

Those prices are 40c a litre less than today.

- NZPA