Oil companies drop petrol prices

Four oil companies reduced their petrol prices yesterday. Gull prices went down 3c a litre, taking the cost of unleaded petrol to 167c a litre and 95 octane to 172c.

Shell dropped 4c, bringing prices to the same as Gull. BP had also dropped its price to 167c, a spokeswoman said.

Caltex later dropped prices to match Gull, Shell and BP.