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Thursday, October 23, 2008

Five oil firms drop petrol, diesel prices, Auckland, New Zealand

Thursday Oct 23, 2008, Auckland-- New Zealand's big five oil companies have all dropped the price of petrol by four cents and diesel has also gone down.

Caltex, Gull, Mobil, Shell and BP all dropped petrol by four cents.

Caltex spokeswoman Sharon Buckland said diesel and petrol prices had been "de-coupled for some time now" and the international market price of diesel had not gone down overnight.

But Shell spokeswoman Jackie Maitland said her company had seen a softening in price and had passed that on in time for the long weekend.

"We could see some decrease in the cost of the product," Ms Maitland said.

She said the decrease in petrol has been larger than diesel.

BP spokeswoman Anita Ferguson said both the price of petrol and diesel had decreased on the international market.

Mobil spokesman Alan Bailey said his company has not moved on diesel because "we didn't see the same market drive".

"If they've made the move, then we'll probably need to respond," Mr Bailey said.

All oil companies operating in New Zealand buy their product from the Singapore market.

Gull's retail business manager Graham Stirk said his company's fall in the price of petrol had also come as a result of a drop in the refined price.

91: 172.9 cents
V Power: 177.9 cents
Diesel: 131.9 cents

91: 172.9 cents
95: 178.9 cents
98: 186.9 cents
Diesel: 131.9 cents

91: 171.9 cents
91 ethanol mix: 169.9 cents
Diesel: 131.9 cents

91: 172.9 cents
95: 177.9 cents
Diesel: 131.9 cents

91: 172.9 cents
95: 177.9 cents
Diesel: 131.9 cents

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