KEY POINTS:
All four petrol companies announced drops in the price of petrol and diesel today, with BP claiming petrol is now the cheapest it has been in three years.
Shell and BP dropped 3 cents a litre off petrol prices and 4 cents off diesel today.
The price for 91 petrol was 132.9c, 95 was 137.9c and diesel had dropped to 103.9c per litre.
Gull Petroleum was reported to be selling 91 for $1.31 and diesel for $1.03 a litre.
Energy Minister Gerry Brownlee had a crack at petrol companies on Monday, accusing them of holding up prices during the peak holiday driving period.
Today's price drop is the second this week since then.
"The decrease is due to further decreases in the international price of refined petrol and diesel. A slightly stronger dollar has also contributed to enable us to pass on another decrease at the pump," said BP managing director Peter Griffiths.
Petrol was now the cheapest it has been at the pump since December 2005, he said.
Petrol fell a total of 86 cents per litre since July, while diesel has fallen 88 cents per litre in the same period.
Shell's Jackie Maitland said the decision to knock the price down was because of a continuing decrease in the cost of the product.
"It's certainly good news for Kiwi drivers as they prepare to enjoy the new year."
Petrol prices peaked this year in July at $2.19c per litre for 91.
- NZPA
