Petrol prices get leg up from currency

DAVE BURGESS
Last updated 11:33 28/11/2013

How do you manage savings?

Share your stories, photos and videos.

Relevant offers

Money

No laws broken by KiwiSaver schemes, expert says Rainbow's End, Countdown and New World scams claim to offer freebies Rates cut and $200,000 business recovery package for gastro-hit Havelock North Call for minimum standards for sunglasses The biggest budgeting mistake people make when planning a vacation New Zealand Post reports $141m profit and parcel growth as letters decline Credit card debt cover is expensive and payouts are limited Money alone won't make you rich - the 7 habits of financially successful people What are Kiwi consumers' most common complaints to the Commerce Commission? Grey backlash to proposed Westpac closure in Waikanae where median age is 62

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