BP, Shell and Gull drop petrol prices

BP, Shell and Caltex cut their petrol prices by 5 cents a litre today saying it was following a drop on the international markets.

The cost of 91-octane is now 153.9 per litre at BP, Shell and Caltex.

BP spokeswoman said it had been 49 days since the price of petrol last went down.

Caltex spokeswoman Sharon Buckland said for a while the international prices of fuel had been dropping but the weak Kiwi exchange rate prevented a drop in pump prices.

"Finally one has gotten ahead of the other," Ms Buckland said.

The price of diesel has not been changed.

Meanwhile Gull said today it was offering a discount price, set to end at 9am tomorrow, with 91-octane at 152.9 cents a litre, 98-octane 163.9 cents a litre and diesel at 92.9 cents a litre.

Retail business manager Graham Stirk said it was likely BP had followed Gull in dropping its price.

Gull would review the market tomorrow to see whether the offer could be continued over the weekend.

- NZ HERALD STAFF