14 Nov 2014

Petrol prices fall to lowest this year

2:47 pm on 14 November 2014

Petrol and diesel prices at New Zealand pumps have hit a new low for 2014 as world oil prices plummet.

The cost of petrol fell two cents to about $2.10 a litre, while the cost of diesel dropped to about $1.42, yesterday.

AA petrolwatch spokesman Mark Stockdale said falling commodity prices were to thank, but he warned that a declining exchange rate could mean a rise in pump prices.

"The normal trend is around November - December commodity prices start going up, and as we head into December, in other countries they stockpile fuel for the Northern Hemisphere winter."

He said similar price cuts happened at the same time last year, before going back up around Christmas.

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