A new blend of 91 octane blended biofuel petrol will be released today for less than $2 a litre.
Gull New Zealand planned to launch its "new next generation biofuel" Gull Regular Plus in Albany, on Auckland's North Shore.
Gull New Zealand general manager Dave Bodger said the next generation fuel was better for the environment and its lower pump price was a huge bonus for New Zealand motorists.
He said no other fuel company was offering 91 octane petrol for less than $2 a litre.
Gull has a network of 32 branded sites.
Its new biofuel had 10 per cent ethanol mixed with premium petrol which Gull said gave higher octane and a cleaner performance.