8 Mar 2013

Retail fuel prices lowered

12:22 pm on 8 March 2013

Retail petrol prices were cut on Friday morning by Z Energy, BP and Gull by two cents per litre, following falls in international oil prices.

The price of 91 Octane at BP and Zed is now $2.18.9 per litre.

Diesel prices were lowered by three cents per litre.

BP said prices were coming down because international prices were settling.

Earlier, the Automobile Association has again urged oil companies to drop retail petrol prices, citing cheaper commodity prices.

The retail price of litre rose 11 cents in February.

The AA also issued a call last week for oil companies to drop their prices, saying international oil prices were falling.

Spokesperson Mark Stockdale said import prices have dropped by four cents per litre and retail prices should match that.

However, Z Energy said international oil prices are not the only factor.

Spokesperson Sheena Thomas said the prices reflected an unexpected closure lasting a week at Refining New Zealand Ltd's only refinery at Marsden Point.