Petrol prices head down

Last updated 12:20 18/08/2014

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A strong New Zealand dollar and declining barrel prices led to a drop in the price of petrol today.

Both BP and Z Energy this morning decreased petrol by 2 cents a litre, the first change in a fortnight.

But while Z had no change to diesel prices, BP dropped diesel by 2c a litre.

A litre of 91-octane is now priced at 217.9 cents.

Diesel remains at 149.9c at Z, though has dropped to 147.9c at BP.

Z said declining barrel prices and continued strength in the New Zealand dollar had allowed for the decrease at the pump.

This followed a drop of 2c a litre two weeks ago, as commodity prices for petrol fell.

AA PetrolWatch spokesman Mark Stockdale said at the time of the last change there was room for a 4c drop, having earlier called for prices to be cut.

But diesel margins had fallen and so change was expected, he said. 

This story has been updated to correct the diesel prices.

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- Stuff

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