Petrol prices fall to three-month low

File photo / Peter Meecham
File photo / Peter Meecham

Petrol prices are at their lowest levels in three months.

The price of petrol and diesel both fell 3 cents a litre during October. The AA said 91 octane petrol ended the month on $2.12 a litre in the main centres, and diesel fell to $1.52 at most service stations.

Petrol prices briefly rose 3 cents earlier in the month with commodity prices, but then fell 6 cents later in the month.

AA PetrolWatch spokesman Mark Stockdale said falling commodity prices and improved fuel supply were behind the fall.

"However, the AA's analysis shows the imported cost of petrol has fallen nearly 10 cents per litre since October 10, while retail prices are only down 6 cents per litre. So there is room for fuel companies to cut prices further and we hope they will do so soon.''

The AA says diesel commodity prices have fallen about 5 cents per litre in the last fortnight, half as much as petrol commodity prices, although diesel importer margins are still above average.

- APNZ

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production bpcf02 at 22 Oct 2014 18:53:26 Processing Time: 206ms