Petrol drops another three cents

Filling up the petrol tank just got even easier with major outlets cutting the price of petrol again today - the seventh consecutive price drop implemented since May.

Petrol prices have fallen by another three cents due to decreasing commodity prices and a strong New Zealand dollar.

Motorists are now paying 196.9cents a litre for unleaded 91 at BP and Z Energy service stations – 22cents a litre less than the $2.189c petrol rose to in May.

This is the first time petrol prices have been consistently below $2 a litre since 2010.

BP managing director Matt Elliott says the decreases are a continuation of what New Zealand has been seeing over the past six weeks.

“This latest drop is the result of a continued decline of international product prices, as well as the overall strengthening of the NZ dollar, despite it slipping back on Friday.

“The main factors impacting fuel prices continue to benefit our customers. Such regular and consecutive price drops haven’t been seen in this market since 2008.”

Gull is still charging the lowest price at $195.9 for unleaded 91 – a price it set late last week.

Retail manager of Gull New Zealand Graham Stirk says Gull strives to offer the best value to Kiwi motorists.

“Falling oil prices and a steady exchange rate have enabled us to pass on these savings at the pump.”

Prices at most BP-owned service stations are:

91 unleaded $196.9 cents per litre
95 unleaded $204.9 cents per litre
Ultimate diesel $141.9 cents per litre