Petrol prices continue to fall after peaking at well over $2 per litre.
The Automobile Association said today's drop in prices at the pump was to be expected after the Kiwi Dollar recovered the five cents it lost last week.
Shell, BP, Caltex, Mobil and Gull have dropped fuel prices by six cents this morning.
AA policy analyst Mark Stockdale said
the international price was such that the recovery of the dollar justified a drop in petrol prices.
"We see enough buffer in the margin for some saving to be passed on," Mr Stockdale said.
Shell spokeswoman Jackie Maitland said Shell was selling 91 petrol for 166.9 cents a litre and diesel for 125.9 cents.
She said the decrease in price was due to a stabilising Kiwi dollar and a continued decrease in the international barrel price.
"That said, the market remains volatile and we commit to reviewing our prices daily so we can pass on the best available price to our customers," Ms Maitland said.
BP spokeswoman Diana Stretch said the drop was due to international price declines. Prices at BP and Caltex are the same as Shell's.
Gull is one cent cheaper with 91 octane petrol at 165.9 and diesel at 124.9. Gull's bio-fuel petrol mix is 163.9 cents a litre.
Gull retail manager Dave Bodger said the markets were volatile.
"It's been down, up, down, up for the last few days," Mr Bodger said.
Mobil had earlier only dropped petrol by four cents, leaving diesel unchanged and giving competitors a two cent advantage.
But Mobil adjusted its price just after 11am, coming into line with competitors.
Mobil spokesman Alan Bailey said earlier his company had seen a need for a decrease but did not think fall in the international was low enough to justify a drop of six cents at the pump.
"The market of course is very competitive and if others are doing it, you can't afford to stay off the pace," Mr Bailey said.
Shell
91: 166.9
Diesel: 125.9
Gull
91: 165.9
Regular-plus: 163.9
Diesel: 124.9
Mobil
91: 166.9
Diesel: 125.9
BP
91: 166.9
Diesel: 125.9
Caltex
91: 166.9
Diesel: 125.9
NB: all prices measured in cents per litre of fuel
