The major oil companies have dropped the price of petrol.

91 has fallen to just under $1.34 per litre.

The price at the pump dropped this morning, with oil companies saying the fall reflects decreasing international oil prices.

However the Automobile Association isn't too impressed by those claims.

They say oil company margins are still above average, and the drop is long overdue.

Today's fall follows a similar drop in the cost of diesel earlier in the week.

But despite the drop, prices at the pump are over 40% higher than the beginning of the year.

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