Stockdale said there were big price variations throughout the country but that today's Rotorua price was a "huge discount" to the national petrol price of $1.88 a litre.
"There has always been an element of localised price competition. It is a sign that there is competition in the market but it varies from area to area," he said.
"It is what you would expect to see in a competitive market," he said. Stockdale noted that the Gull promotion was a 24-hour special.
"Obviously it's a good time to do it so that people can fill up for Christmas," he said.
Gull general manager Dave Bodger said the company was "feeling the Christmas cheer".
"We know this can be an expensive time of year, and also that many people are filling up their tanks for summer road trips. This is our way of celebrating the festive season and thanking Kiwis for their loyalty this year," he said.
During the promotion period, the price for regular 91 grade will range from 142.9c to 159.9c a litre, with an average of 155.9c.
Diesel will be priced from 65.9 cents to 82.9 cents a litre, with an average price of 79.5 cents.
Motorists can save further by using Countdown supermarket discount vouchers.
Global oil prices - already at low levels - have slumped further in the past few days to below US$S35 a barrel.
US inventories have continued to surge while global demand has remained subdued.
Meanwhile the kiwi dollar, which effect the price New Zealanders pay at the pump, has risen back above US67c.
Tips for drivers this holiday season:
• Take a break every hour from driving
• Don't rush
• Check your tyre pressure (including your spare) before long journeys
• Ensure trailer and roof rack loads are well secured
• Always follow the two second rule (three seconds in the wet)
