Petrol under $2 - first time since Jan

Lower international prices are credited with the drop in price. Photo / Thinkstock

Petrol companies are dropping the price of petrol by 4 cents a litre this morning, bringing the price of 91-octane under $2 for the first time since January.

Diesel is dropping by 3c a litre.

BP dropped its prices this morning, selling 91-octane at $1.999 per litre, 95-octane at $ 2.079 and diesel at $1.419 per litre.

Z Energy, which owns the Shell retail network, also dropped its petrol prices to the same levels and its diesel to $1.409 per litre.

Lower international prices are credited with the drop in price. Other companies are expected to follow suit.

Today's drop - the second this week after petrol reduced by 3c a litre on Monday - means 91-octane petrol is under $2 a litre for the first time since January.

In early May the price reached $2.22 a litre.

- NZPA