Liam Dann: What’s going on with petrol prices – and will they fall enough to turn the economy around?

PremiumOpinionOpinion byLiam DannBusiness Editor at Large·NZ Herald·27 Jun, 2026 05:00 PM6 mins to readLiam Dann, Business Editor at Large for New Zealand’s Herald, works as a writer, columnist, radio commentator and as a presenter and producer of videos and podcasts.‌Crude oil prices are down, but it takes longer for cheaper oil to flow through to refined fuel prices. Photo / Lev DolgachovSaving money at the petrol pump yet? You should be.To be fair, it probably doesn’t feel like much.But it looks promising, so promising in fact that some of our biggest banks have pulled back expectations for a rise in the Official Cash Rate in July.

Westpac has even