13 Oct 2015

Strong NZ dollar leads to petrol price drop

8:58 pm on 13 October 2015

The Automobile Association is welcoming today's drop in fuel prices, and says it expects them to fall further.

BP and Z Energy cut petrol prices by 2 cents today, with the price of 91 now sitting at $2.019 and diesel at $1.239.

AA Petrolwatch spokesperson Mark Stockdale said the drop was overdue and mirrored the recent 2 cent rise in the exchange rate.

"Since the last time prices changed, which was just over a month ago, the exchange rate has actually gained 4 cents in that time and in the past month commodity prices have actually fallen slightly," he said.

"So overall, in our view, there is definitely scope for fuel companies to cut prices by another couple of cents, especially on petrol."

BP said the strong New Zealand dollar was behind the decrease.