Petrol company Gull has launched a major promotion, slashing prices at the tank by 20 cents from 7am today.

The promotion will run until 12pm on Friday Afternoon.

The company says all fuel types will be included and that it’s an effort to say thank you to customers.

Gull consistently runs petrol price discounts as part of its strategy.

This has led to what the AA coined the “Gull Effect” – a term used to describe the trend that sees overall petrol prices drop when Gull enters a neighbourhood.

The increased competition of the discount retailer forces other petrol stations to respond or risk losing market shares.

Gull keeps its costs down by having all its petrol stations unmanned and opting for pay at the pump.

Gull petrol stations also generally do not have a store on-site.

This reduction of overheads allows the company to offer lower prices consistently.

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