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NZ petrol retailer announces seven cents a litre price drop as coronavirus fears hit global oil market

March 10, 2020

Crude oil prices fell by 30 per cent, the biggest one-day drop in nearly 30 years. (Source: Other)

Z and Caltex petrol retailers are dropping the price of gas by seven cents a litre.

It comes on top of a six cents a litre drop yesterday.

International fuel prices have plunged in recent days, on the back of uncertainty prompted by the Covid-19 coronavirus.

Yesterday Z Energy said it was following the "significant movements in the oil market."

"It is clear that the impact of Covid-19 is escalating when it comes to global commodity markets, and that this is now likely being compounded by geo-political machinations in relation to oil-producing states."

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