More petrol price falls

Last updated 16:35 20/06/2012

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Petrol prices continue to tumble, with another company cutting prices to below $2 a litre for the first time in almost a year.

BP today dropped the price of a litre of regular petrol by 3 cents to $1.999.

Petrol prices have now fallen by 20c a litre in less than a month, saving motorists $8 on every 40 litre fill.

BP New Zealand managing director Matt Elliot said the continued decline in international product prices has allowed BP to drop its prices again.

"Previously, international product prices have remained stubbornly high, but we've seen some respite in the past couple of months, caused by a number of factors including threats of falling demand due to the uncertain Greek situation," Elliot said.

"Accordingly, we have moved to pass those savings on to motorists as soon as possible."

Z Energy also cut the price of petrol by 3c a litre this afternoon, matching BP's prices.

Australian-owned Gull cut the cost of unleaded 91 petrol to under $2 a litre yesterday, charging $1.999 for 91 and $2.129 for its premium 98 octane petrol.

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- BusinessDay.co.nz

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