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- 01 Jul
BP Offers Money Back to Dealers
Associated Press reports BP will begin reimbursing their dealers with fuel rebates of $.01-.02 per gallon purchased at terminals to help offset the decline in fuel sales reported by many BP dealers after the gulf oil spill began. BP says the rebate money may be used however the dealers wish. While some may use the money to help cover lost sales since April, others may pass on the rebate directly to a fuel price reduction at the pump.
Given that studies have shown people will drive miles out of their way to save a few cents per gallon on fuel, I would expect most dealers will use this money to lower their fuel prices.
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