The latest cut is the sixth in the past month.
Motorists will be hoping for further declines going into the school holidays next week, and the AA says further reductions are possible, with the New Zealand dollar gaining further strength.
BP and Z Energy have been leading the cuts and in urban areas throughout New Zealand yesterday 91 octane was retailing for 199.9c, 95 octane for 207.9c and diesel for 142.9c"While welcome, the pump price cuts seem to be lagging commodity price reductions, for refined fuel, not oil. The importer margin - retail price less costs - is still above average and has been for some time," the AA said yesterday.
The AA noted global crude oil prices were not the true indicator of fuel prices. The main determinant was commodity prices for refined petrol or diesel, which fluctuate and are subject to the strength of the kiwi.
World oil prices tumbled more than 3% on Wednesday to their lowest in 18 months, to $US92.69 ($NZ116.56) a barrel when data showed US crude inventories had unexpectedly swelled and investors were disappointed at measures the Federal Reserve announced to aid the economy, Reuters reported yesterday.
Within an hour of the Fed announcement, most financial markets were back to pre-Fed levels, and oil traders focused on signs the euro zone debt crisis and lacklustre US growth were exacerbating a growing surplus of stockpiled oil.
Previous rounds of fiscal stimulus in the US had sent investors into those oil futures assets, which supported global crude oil prices.
