30 Dec 2014

Petrol prices likely to fall even further

1:33 pm on 30 December 2014

The cost of petrol looks likely to drop even further after oil prices slumped overnight.

Petrol prices could have further to fall.

Petrol prices could have further to fall. Photo: AFP

Brent crude has fallen to $58 a barrel.

AA spokesperson Mark Stockdale said New Zealanders should see a drop at the pump in the next few days.

"It's probably inevitable that we will see another reduction in pump prices, clearly that's what's been happening for the last few months, commodity prices have just continued to fall gradually over time and as a result pump prices have followed suit."

He said there was already room for the price of petrol to drop and companies were delaying passing on the benefits.

Currently, the price of 91 Octane at most outlets is just under $1.92. Some Gull stations are selling it as low as $1.79.

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