Falling Pump Prices Around the World
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Monday, 27 October 2008 |
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From New Zealand to England and from USA to Malaysia, the news headlines
are dominated by the continuing drop in the price of fuel at the pump.
Fuel price war in England and everywhere the news of reducing
petrol retail prices at the pump. Despite the OPEC descision to reduce
oil production, the price of the barrel also continued to fall.
However this should change over the coming period.
Petrol retail brands around the world have very
different approaches to the current volatile prices. The
progressive brands seize the opportunity to gain market share or
increase revenue streams from the c-store and other ancillary services.
Last week PetrolWorld reported the BP dealer site in Sydney
that "seized the moment" by creating news headlines with low prices
creating traffic congestion. Elijah el Khouri BP station in Blacktown,
Sydney was once again selling fuel for 99 cents a litre, with Nine’s
current affairs flagship throwing in $5000 to get prime position on the
story over rivals Today Tonight. It was chaos early this morning
at the Sunnyholt Road BP, with motorists banked up as far as the eye
can see.
PetrolWorld 271008
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