Competition brings short term discounts

Media Release: 1 June 2007

PetrolWatch – May 2007

Competition brings short term discounts for motorists

Despite a month of sometimes fierce price discounting by oil companies, petrol and diesel ended the month virtually at the same price they started – up just one cent to $1.57 per litre for 91 octane and $1.03 per litre for diesel in the main centres.

“For the second month in a row fuel prices have remained stable, despite the recent increases in international crude and refined petrol product prices, and a largely stable New Zealand dollar,” says AA Motoring Policy Analyst Mark Stockdale.

“Motorists benefited from several short-term fuel price specials during the last three weekends in May. Discounts of up to seven cents in some areas meant prices briefly fell to $1.47 per litre for petrol and 92 cents per litre for diesel – and that’s not including discounts from supermarket vouchers.”

“The weekend fuel discounts were started by Gull, have lately been led by BP, and occasionally last into the early part of the week thanks to competition from Shell, Mobil and Caltex.”

“It is great to see motorists benefiting from this competition between oil companies. The AA encourages motorists to shop around to ensure they get the best deal, and to consider filling up on the weekend if those short-term discounts continue,” says Mr Stockdale.

Compared to this time last year, petrol prices were $1.71 per litre for 91 octane and $1.28 per litre for diesel, according to AA PetrolWatch.

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