25 Feb 2016

Petrol prices should be lower - AA

4:17 pm on 25 February 2016

The Automobile Association thinks there is a strong case for petrol prices to be lower.

The oil refinery at Marsden Point has just announced what its managers call one of the company's best returns ever: a full-year profit of $151 million.

It says it was able to make the most of high profit margins, with the cost of crude oil low and refined petrol high.

Petrol prices in non-discounted regions are $1.74 a litre for 91 octane.

AA spokesperson Mark Stockdale says petrol retailers could cut the price at the pump in light of the refinery's profits.

He says the price has been raised in the past when the refinery was going through difficult times and a payback would be only fair now.