$1.999

We just had to dash out and do some errands. And as we did, we drove past one of the local BP stations, and saw the welcome news with our own eyes; unleaded 91 petrol has dropped to under $2.00 per litre. Stuff confirms the good news:

BP and Shell have dropped the price of petrol at their outlets to under $2 a litre - a seven-month low.

The companies cut petrol by 4 cents a litre and dropped diesel 3c a litre.

The reductions came on the back of a stronger NZ dollar and weakening international refined fuel prices.

BP managing director Mike McGuinness said the company had been monitoring prices closely and the price drop was due to the latest fall in international markets.

The company was selling 91 unleaded at $1.999 per litre, 95 unleaded at $2.079 and diesel at $1.419 per litre.

The price drop followed a 3c cut on Monday.

Z Energy, owner of the Shell petrol station chain in New Zealand, also dropped petrol prices at its Shell and Z branded stations due to the stronger dollar.

The cuts took 91 unleaded to $1.999 per litre, 95 unleaded to $2.079 and diesel to $1.409 per litre.

That's great news for everyone who uses petrol, whether directly or indirectly. The price for 91 peaked at almost $2.23 back in may, so a more-than-10% decline in the price since then is very welcome. And it's the first time since January that 91 octane fuel has dropped below the $2.00/litre mark

There's only one downside to it all; our fuel gauge is currently sitting on about the 3/4 full mark!