BP has joined Shell in dropping the price of petrol by 4c a litre, taking unleaded 91 down to $1.53.9 a litre.
The latest price cut means petrol has dropped by a total of 65c a litre since its peak on July 17.
Shell spokeswoman Jackie Maitland said reducing global demand for crude oil was flowing through to decreases in the cost of refined product.
Shell was continuing to review diesel prices, which today remained unchanged on $1.25.9 cents a litre.
BP said the latest cut was the company's fourth price drop in the last two weeks, with petrol falling a total of 19 cents per litre in that period.
BP Managing Director Peter Griffiths said the change was due to continued decreases in the international price of refined petrol.
Mr Griffiths said diesel prices at the pump had not changed as the international price of refined diesel had remained steady in the last few weeks and had not seen the decreases that refined petrol had.
BP would continue to monitor international diesel prices.
Shell said it was continuing to review diesel prices, which today remained unchanged on $1.25.9 cents a litre.
source:nzpa
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