Early Christmas gift for motorists
Petrol prices dropped four cents today, boding well for the holiday road trip.
First off the mark was BP, shaving the price to $2.08 for 91 Unleaded and $2.16 for 95 Unleaded.
Competitors Z Energy and Caltex then matched the price.
A spokesperson for BP, Jonty Mills, said lower international prices signalled it was time to pass savings on to the customer at the pump.
"Since the end of November, we've seen a steady decrease in international product prices," he said.
"Internationally, weaker economic growth may further reduce fuel demand and boost inventories."
Gull's prices were already below the other petrol companies, Gull NZ general manager Dave Bodger said.
"Gull's prices are below big oil's, and have been for weeks. It really is a bit naughty to trumpet a price drop when you're not leading the market."
Gull's price for 91 octane petrol ranged from $2.00 to $2.07 per litre.
Mark Stockdale, spokesperson for AA's PetrolWatch, said it was the first price change in three weeks.
"Things are looking up for the Kiwi Christmas road trip," he said.
"This time last year we were paying $2.07 per litre - so prices have little changed in the last 12 months whereas they usually increase year on year."
He said since November 21, when prices spiked 4 cents, petrol prices have fallen 3 per cent.