Oil prices have plunged with the shaky ceasefire between the US and Iran, and it's sparked discussion about what's going to happen next.

It's bringing consumers some ease at the pump, with 91 dipping below $3 a litre. 

Finance Minister Nicola Willis says she's 'pleased' to see prices coming down, but prices need to stay below the $3 limit for four weeks in a row before they end the fuel support package.

"If that oil prices spikes up again in response to events in the Middle East, you might see that the petrol price at the pump bump up again. But we're all crossing our fingers...and hoping it stays low." 

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