BP has raised petrol prices by 1 pence per litre across the UK, taking unleaded to 74.9 pence per litre.

While the group stuck to its target of increasing output by 5.5 per cent in 2002, it said first quarter production was only in line with a year ago.

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A spokesman for BP told ePolitix.com: "Regrettably we had to put forward this price increase in order to reflect the increase in the international price of petrol. At the start of the year we were paying 10.2 pence per litre and now we are paying 14.2 pence per litre. We were therefore left with no choice but to reluctantly increase our prices."