Big oil players are boosting price relief as fuel costs climb. BP is stepping up its strategy to challenge Repsol and Cepsa by widening the mandatory 20 cents per liter discount that governments require, aiming to soften the blow of rising fuel costs for households and professionals.
Following news that Repsol and Cepsa will raise their discounts to 30 cents per liter for several months, BP has introduced a summer promotion that runs from now through September 30, offering up to 40 cents off per liter at BP stations across the country.
BP Spain notes that private customers who pay with the My BP card will receive 15 cents off the standard 20 cents, plus an extra 5 cents for refueling above 40 liters. This additional 5-cent incentive applies mainly to peninsula stations and does not apply to island locations.
To date, BP discounts have included an extra 5-cent reduction for loyalty card holders, extended to 15 cents during the summer, plus a further 5-cent bonus for refueling above 40 liters and for certain professional fuels. The company also offers a 40 euro discount for customers who refuel more than 30 liters.
Pressure on rivals
With gasoline and diesel prices near record highs, major oil groups are reluctant to close the discount window as the summer travel season opens. Authorities anticipate a strong rise in travel on Spanish roads during the summer peak. Earlier in the month, Repsol and Cepsa extended their own discounts, and BP is pressing its competitors amid industry volatility.
Repsol was the first to confirm that its summertime discounts are extended across its network of fuel stations. In addition to the 20-cent per liter reduction set by the anti-crisis decree, Repsol’s leadership will continue to add 5 cents to all customers and 10 cents to drivers who use the company payment system. The Waylet corporate program adds further savings, pushing the final discount to 25 or 30 cents per liter, alongside other promotions available to professional drivers.
Cepsa has extended its added discounts through the end of the year, not just the summer. Some rebates for loyalty program members reach up to 25 cents per liter for all customers, and 30 cents for qualifying consumers.