Wednesday, June 30, 2010

BP (NYSE:BP) Offers Station Owners Help

After the misguided steps to boycott BP (NYSE:BP) gas stations across the country, some of them began to feel the pain, and BP is stepping in to help them through the tough times.

According to BP, they're offering cash back to their distributors for every gallon of gas they sell at the stations. Along the Gulf coast it's set at 2 cents a gallon and in the Midwest and East it's 1 cent a gallon.

Other help will come in the form of increased national advertising and a reduction in fees for credit card use.

The program for cash to distributors will operate from June through August. Costs for BP will be from about $50 million to $70 million over that time. Distributors are allowed to use the additional cash for whatever use they want.

BP said they're reevaluate the program as events change over time. For sure it'll go through August though.

1 comment:

  1. they're not even americans and pay no taxes. maybe someone should look into how much of the money given by bp will be used to fund arms for overseas countries