Oil companies cut petrol, diesel prices

Leading oil companies have dropped the price of petrol and diesel from this afternoon.

The price of petrol has been cut by four cents making 91-octane $1.63.9 a litre, and 95-octane $1.69.9 a litre.

Diesel was down by three cents to $1.07.9 a litre.

A Shell spokeswoman said the price drop was due to a "welcoming decrease in the cost of refined petroleum".

- NZPA