BP reduces oil prices in New Zealand

Motorists will get a pleasant surprise at the pump today with BP dropping petrol and diesel prices for the second time in seven days.

BP decreased oil prices across New Zealand today with 3 cents per litre from both diesel and petrol.

It's the second such decrease in under a week with 91 Unleaded now down to 193.9 cents per litre and Diesel sitting on 123.9 cents per litre.

A spokesperson for BP said the decrease in price is a result of a continued decrease in refined costs.

"The New Zealand dollar has also continued to trend favourably against the US dollar since our last decrease," she says.

"As a result, we've been able to take 6 cents per litre off diesel and 5 cents per litre off petrol over the past five days."

The decrease brings BP's price in direct competition to Z Energy who are advertising the exact same prices on their website. However, one reader said the price at Glenfield Road and Onewa Road Z Energy stations was 181.9 cents per litre for Unleaded this morning.

Gull still demands the most competitive rate. A small sample of stores in the Auckland and Waikato region showed prices ranging from 174 cents per litre on 91 Unleaded with 104 cents on Diesel on the cheapest end to 180 cents per litre on 91 unleaded and 103 on Diesel.

When contacted, Mobil store attendants said they could not disclose the current prices on 91 Unleaded and Diesel.