Petrol prices on the rise

HAMISH RUTHERFORD

Last updated 12:04 09/08/2012

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Petrol prices are rising again, with international product prices rising as the Kiwi dollar weakens.

Z Energy has today increased the price of regular petrol by 4 cents a litre to $2.169, according to its website. The company was not immediately available for comment.

BP, Z Energy's main rival, has not yet moved on price, although a spokesman confirmed the situation is currently under review.

Since July 26 the cost of international product had increased by 7.6 per cent, BP's Jonty Mills said.

The New Zealand dollar has also been falling, dropping half a cent against the US dollar this morning after unemployment was higher than expected.

After briefly dropping below $2 a litre in June, the price of petrol has been climbing sharply and is now just 5c a litre from the all time high hit last year.

At the start of August the government pushed up the price of petrol by 2c a litre after hiking excise tax.

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