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Motorists are getting some reprieve from
high fuel costs with one retailer dropping the price of 91-octane to
under $2.00 a litre.
Waitomo Petroleum service stations, located in North Island towns, are charging $1.99 a litre for petrol until Friday.
AA principal advisor Mark Stockdale said global fuel prices and an improvement in the New Zealand dollar had helped drive prices down.
"From paying just under $2.50 a litre for 91-octane petrol in early October. Now we've got prices down to about $2.15 in many parts of the country.
"So it's certainly quite a rapid reduction in fuel prices in a relatively short space of time."
He said Waitomo Petroleum's prices were fantastic for consumers.
"They're doing a special, it's a marketing ploy, good on them."
"We would expect that the price of fuel here would be lower than the mainstream price as they're an unmanned brand so that means they've got lower overheads so the AA thinks that's a reasonable discount for an unmanned service station."
Mr Stockdale said it was difficult to know if the lower prices would last.
"It's always difficult to know what's happening with prices and most of it is out of our control, it's outside of fuel companies' control, it's outside of government's control it's just global things that influence commodity prices."
"That the reason they rose not long ago to those highs and it's the same reason that they're falling."
"A month ago when we were paying nearly $2.50 a litre I don't think motorists thought they would see fuel prices under $2 again but that's what we are seeing - at least with one retailer anyway."
Waitomo Petroleum service stations, located in North Island towns, are charging $1.99 a litre for petrol until Friday.
AA principal advisor Mark Stockdale said global fuel prices and an improvement in the New Zealand dollar had helped drive prices down.
"From paying just under $2.50 a litre for 91-octane petrol in early October. Now we've got prices down to about $2.15 in many parts of the country.
"So it's certainly quite a rapid reduction in fuel prices in a relatively short space of time."
He said Waitomo Petroleum's prices were fantastic for consumers.
"They're doing a special, it's a marketing ploy, good on them."
"We would expect that the price of fuel here would be lower than the mainstream price as they're an unmanned brand so that means they've got lower overheads so the AA thinks that's a reasonable discount for an unmanned service station."
Mr Stockdale said it was difficult to know if the lower prices would last.
"It's always difficult to know what's happening with prices and most of it is out of our control, it's outside of fuel companies' control, it's outside of government's control it's just global things that influence commodity prices."
"That the reason they rose not long ago to those highs and it's the same reason that they're falling."
"A month ago when we were paying nearly $2.50 a litre I don't think motorists thought they would see fuel prices under $2 again but that's what we are seeing - at least with one retailer anyway."
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