Petrol price falls again

Shell has cut the price of petrol for the second time this week, chopping four cents per litre of both petrol and diesel this morning.

All four major petrol companies dropped their petrol prices by four cents per litre on Monday.

Shell's 91 octane petrol will now be sold at $1.55.9 cents per litre, with 95 octane at $1.60.9 and diesel at $1.10.9.

Shell cited the strengthening New Zealand dollar and decline in world-wide oil prices as reasons for the price cuts.

BP said it had matched Shell's price drop.

Gull also dropped their prices by four cents per litre.

A Mobil spokesperson said the company would "assess the market" but its commitment to customers was to offer a competitive price so it would see what happened in the next few hours.

Caltex said the NZ dollar had made a good rise but it was looking to see what the other indicators are before dropping prices.

It expected a decision today.

- NZPA