Petrol prices come down 5c

All the major petrol companies cut their prices by 5c a litre yesterday. Shell was first, at 3.30pm, taking the price of its unleaded petrol to 176.9c a litre.

The rest followed soon after, with Gull bringing its price down to 173.9c.

Shell spokesperson Kylie Reeves said: "The price of crude oil has been steadily falling and this is continuing to flow through into the cost of refined product."

The last petrol price decrease was 8c a litre on Friday. Petrol has dropped more than 40c since July 17.

Mark Stockdale, of the Automobile Association, said: "The petrol cut is excellent and reflects continuing reductions in the product price, coupled with a steadying exchange rate - and we hope another drop will also be forthcoming for diesel."

- NZ Herald

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