Fuel prices are one of those costs that almost everyone notices immediately.

When they rise, households feel it, businesses feel it, and suddenly a number on the forecourt becomes a national talking point.

The average price of petrol has dipped under $3 for the first time in more than three months as a fragile ceasefire between the US and Iran holds.

If the price stays below $3 for four consecutive weeks, the Government’s fuel support package aimed at 143,000 low-to-middle income families will end.

They’re currently getting $50 a week through a boost to the in-work tax credit.

But, how low will prices go? And how likely is it that prices will soar again?

Today on The Front Page, AA fuel spokesperson Terry Collins is with us to unpack how fuel prices in New Zealand actually work, what’s driving them right now, and whether the current reprieve could last.

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You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Jane Yee