Petrol prices slid another 3c a litre yesterday, for a second consecutive week, after what the Automobile Association lamented as a rotten month for motorists.
The latest cut, which followed a 3c drop nine days ago, took prices at most main centre pumps to $1.42c for 91-octane petrol, and to
$1.47c for 95-octane.
But these prices are still 6c higher than at the beginning of the year, and diesel remains at a record high of $1.06c a litre against strong international demand for a reduced-sulphur product which new Government regulations require oil companies to supply.
Shell Oil spokeswoman Jackie Maitland said the latest cut followed a continuing decrease in import costs, and word that the United States was holding more supplies than earlier feared.
AA motoring affairs manager Mike Noon said the cut was particularly welcome, after January turned out to be such "a rotten month for motorists".
Yesterday's cut came just hours after the AA issued its monthly PetrolWatch bulletin, in which Mr Noon said the organisation believed there was still room after last week's drop for a further price reduction.
Road Transport Forum chief executive Tony Friedlander said it was clear his industry was paying the price for higher-specification diesel, but an independent energy consultant was still analysing its cost structure to ensure importer margins were justifiable.
Despite continuing hardship for road carriers, Mr Friedlander said they were relieved by a Commerce Commission agreement late last week to allow them to vary freight prices to take account of fuel cost movements, as long as these were not presented as "surcharges."
