Motorists will be feeling the pinch as petrol prices are on the move again.
The price of fuel has been creeping up during the past month, but it pays to shop around, as prices vary slightly at service stations around the Nelson region.
Automobile Association (AA) petrol watch spokesman Mark Stockdale said petrol increased by 14 cents a litre last month, while diesel was up 10c.
During the past month petrol increased from $1.97 a litre to $2.11 in the main centres, while diesel at most service stations finished the month at $1.51, Mr Stockdale said.
However, prices vary around the Nelson region by at least 4c per litre. This morning, 91-octane petrol at Nelson and Richmond BP stations cost $2.10 per litre. At Z Stoke it was $2.12, and at Caltex Motueka it was $2.14.
“After crude oil prices fell to 18-month lows of US$88 a barrel in June, they then jumped 20 per cent during July,” said Mr Stockdale.
“A 17 per cent increase in refined petrol prices . . . equated to a 7 per cent increase in petrol pump prices.”
The AA is warning of further potential price hikes, but it has called on fuel companies to stop prices going up at the pump after today's excise tax increase.
The excise tax on petrol is rising from 48.5c per litre to 50.5c today, with diesel Road User Charges (RUC) increasing by an equivalent amount.
"Fuel companies can afford to absorb the tax increase,” said Mr Stockdale.
Tell us at nelsonmail.co.nz which service stations you think have the cheapest and most expensive petrol in the region.
- © Fairfax NZ News