5 Nov 2008

Petrol prices drop at the pump

4:37 pm on 5 November 2008

The retail price of petrol dropped by four cents on Wednesday.

BP dropped its price of 91 octane - the second fall this week - and it was followed by Shell, Caltex, Mobil and Gull.

The price of unleaded petrol at BP, Shell, Caltex and Mobil service stations is now $162.9 a litre while it is $1.619 a litre at Gull.

BP says it'll pass on the benefits of lower prices to motorists as quickly as possible and will continue to monitor international prices on a daily basis.

Gull says the drop in international refined combined with a steadying New Zealand dollar allowed the drop.

The price of diesel is unchanged.