Petrol prices have fallen below $2 per litre for the first time in New Zealand since August last year but the AA says the cut could have come sooner.
First to lower pump prices below the $2 mark was Gull on Tuesday, followed by other major companies yesterday.
Prices for unleaded petrol have dropped 20 cents in the past month which works out at a saving of about $8 for every 40 litre fill, BP external affairs manager Jonty Mills told Radio NZ today.
AA petrol watch spokesman Mark Stockdale told Radio NZ that would save the average motorist about $200 a year at the current price compared to a few months ago, he said.
Prices were coming down because of dropping commodity prices and our rising exchange rate, Stockdale told Morning Report.