Motorists suffer as petrol price nudge record

DAVE MOORE/Fairfax NZ

SURGE: Petrol prices were now "perilously close" to a record, which typically prompted a review of driving options and habits.

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A second increase in five days has pushed petrol "perilously close" to a record high.

Yesterday BP blamed a rise in the price of international product as it raised the pump price of regular petrol by 3 cents a litre to 219.9c at most stations in major centres.

Z Energy responded several hours later with a similar rise. Diesel prices were unchanged.

After dropping to the lowest level in more than a year in June, petrol has leapt by 22c a litre in seven weeks, and stands just 2c off the high reached in May 2011.

BP spokesman Jonty Mills said as prices neared uncharted territory it was likely demand would drop. The outlook for prices remained volatile, he said.

An Automobile Association spokesman, Mark Stockdale, said prices were now "perilously close" to a record, which typically prompted a review of driving options and habits.

- © Fairfax NZ News