Petrol prices have dropped another seven cents per litre in the last two days.
The price of 91 octane has fallen below $1.80 nationwide for the first time since August 2010.
Petrol prices are now below $1.80 for 91 octane.
Z dropped prices by four cents on Tuesday, while BP cut petrol and diesel prices by three cents per litre on Wednesday.
The price drop represents seven cuts co far in 2015, with petrol down 49 cents since October, and diesel down 45 cents per liter, says AA spokesperson Mark Stockdale.
He says: 'The commodity price (refined petrol) now makes up just 25 per cent - yes, one quarter - of the retail price of petrol, with taxes 52 per cent and most of the remainder being fuel company margins.
'This shows just how small the ‘product cost' component of the retail price is – which is true for most goods and services.”
Mark says even if the commodity price fell to US$1/barrel, 'we'd still be paying about $1.30 for a litre of petrol, thanks to taxes and margins – which are so high that fuel companies can still afford to cut pump prices by 5cpl or more”.
Where do you think is the cheapest place to buy fuel?
8 comments
Mobil
Posted on 15-01-2015 11:00 | By penguin
Mobil (Causeway Chappell Street) consistently lower than any other outlet! As at yesterday, Regular $163.99. Probably lower now.
gull cheapest
Posted on 15-01-2015 11:08 | By H man
just went too gull 86.9 for diesel 160.9 for 91
Missleading pricing
Posted on 15-01-2015 12:59 | By NZgirl
There is fuel and fuel bio fuel which is cheaper at the pump does less Kms. 15km less, for an average fill of 15 litres of fuel.While Gull's E10 fuel cost five cents per litre less, if the same driver only filled up with the biofuel, they would use just over 1104 litres at a cost of $2241. That's 80 litres more a year and an extra $110, or 10 cents per litre more than mineral 91. (AA website)
cheap fuel!!
Posted on 15-01-2015 15:02 | By Mackey D
Gull Merivale is $160.9, think it must be the cheapest around although I think Gull Hewletts rd will be about the same, i always use Gull cheaper than any where. BP is $172., they can do better then that
Cheap fuel!!
Posted on 15-01-2015 19:05 | By Mackey D
Maybe, its up to the individual as to where you go for fuel and what suits you. I'm happy with Gull and happy with mobil.
price difference
Posted on 16-01-2015 07:06 | By usandthem
between 91 and 96 used to be about 6 cents 3 years ago now its 17 to 18 cents.Oil companys still ripping off motorists.
Lower Still
Posted on 16-01-2015 08:36 | By Capt_Kaveman
A drop to $46 now we could see a pump price in the $1.50s, where prices are now is a realistic price since oil companys have been ripping people off for so long, Shell alone could end world poverty
taxes
Posted on 16-01-2015 11:16 | By JayR
we should be thankful that we have a government that taxes the snot out of fuel to the point that it costs more in just taxes than the total cost of fuel in some first world countries. If it was any cheaper, people might think it was the end of the world.
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