Petrol prices hit six-month low

Petrol and diesel prices dropped late yesterday to their lowest level since March, mainly because of a strengthening New Zealand dollar.

BP, Shell and Caltex cut 4c off their prices from about 4.30pm, and Mobil followed suit later.

Petrol prices have dropped 30c in just over a month, to 146.9c for a litre of 91-octane and 151.9c for 95-octane. Diesel is now selling for 112.9c.

BP's Diana Stretch said the main trigger for the cuts was a stronger dollar, not falling oil prices.