Petrol drops by 5C

Petrol prices dropped by 4c - and then by another 1c - today.

Shell announced it had dropped by 4c with immediate effect.

BP countered with a 5c drop, which Shell then said it would meet.

The price of 91 octane is now at $1.619c and 95 octane is at $1.669c.

- NZPA, NEWSTALK ZB