Petrol prices get leg up from currency

Last updated 11:33 28/11/2013

Budgeting tips from Kiwi savers

Share your stories, photos and videos.

Relevant offers


British American Tobacco offers to buy Reynolds in US$47 billion deal How to accumulate and save with AA Smartfuel Single people facing struggle to service mortgages Take action to avoid KiwiSaver disappointment at 65 Trade Me Property data shows no rise in rents for third consecutive month Papakura Configure Express members claim refund demands going unanswered The psychology behind why that smashed avocado costs $22 When price doesn't matter: How we're tricked into needlessly spending hundreds of dollars Boom time for property owners on outskirts of Auckland Peter Townsend: International visitors - Can we cope?

A weaker New Zealand dollar and stronger oil prices have been blamed for a 3-cent-a-litre increase in petrol pump prices.

BP and Z Energy confirmed it had yesterday raised fuel prices by 3c a litre across the board, taking a litre of 91-octane petrol to 214.9c a litre, and diesel to 152.9c.

BP spokesman Jonty Mills said the increase came on the back of a weaker dollar and stronger oil price.

"That has been ... a steady trend with both those components over the last two weeks," he said.

Z Energy spokeswoman Sheena Thomas said the increase was the first the company had made since August 30.

"It is quite rare for oil prices to ... track along at relatively the same rate," she said.

Automobile Association PetrolWatch spokesman Mark Stockdale did not believe the increase was an emerging trend.

"Relatively speaking things have been pretty good for the past three months," he said.

"In fact we had five price cuts in a row, and for the past seven weeks there has been absolutely no change."

That reflect stability in commodity prices and the dollar, he said.

"The AA's monitoring shows it is costing them more to import fuel than it was when they last cut prices. So they have passed that cost on ... it is just a normal fluctuation."

Gull has not increased its fuel prices.

Spokesman Dave Bodger said the company would re-evaluate that decision about lunchtime tomorrow.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content