According to reports, the cost of oil has dropped despite global economic skepticisms, as retailers like BP, Shell, Z Energy and Caltex have reduced their prices for ‘unleaded petrol’ by 3c, with their price for 91 octane fuel falling to $2.03.9 per liter.

Also, Gull slashed its petrol prices by 3c a liter this morning, pushing it below $2 per liter at its network of ‘unmanned drive’ via sites.

BP Managing Director, Mike McGuiness said: “In recent weeks the strong New Zealand dollar has meant we’ve been able to drop prices at the pump. Although the dollar is no longer climbing, the price of refined fuel has fallen and that’s allowed us to pass on this latest price decrease”.

However, the recent move is said to be as a result of changes on the refined fuel price, and by utilizing the increasing rate of ‘unmanned outlets’, Kiwi motorists can now save on a reduced fuel costs and enjoy driving conveniently.

Moreover, David Bodger, General Manager of Gull New Zealand said: "Regular Plus is selling at $2.019 and Regular at $2.029 per liter. That should save you very close to the price of a cup of coffee when you pay inside on most tank fulls".