Z Energy, BP lift petrol prices

NICK KRAUSE
Last updated 14:57 05/07/2012

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New Zealand's largest fuel retailer, Z Energy, has raised the price of petrol by 3c a litre.

It has also raised the price of diesel by 2c a litre.

"Not such good news this time  we've just raised the price of petrol by 3c a litre and diesel by 2c a litre due to increased products costs," the company said via Twitter. 

Z's prices are now 199.9c a litre for regular 91, 207.9c for premium and 142.9c for diesel.

BP confirmed it is also raising its prices by 3c a litre for petrol and 2c for diesel, citing "international product price rises".

Its prices rise to 199.9 cents per litre, 207.9c for 95 and 143.9c for diesel.

Jeremy Clarke, spokesman for Chevron which markets Caltex, said the company was reviewing the situation. Its current prices are 196.9c a litre for regular, 203.9c for premium and 139.9c for diesel.

Gull said it would hold fuel prices until at least Monday morning. 

"While refined prices are volatile at present there is no need for a knee jerk reaction to the latest blip in prices," Gull retail manager Graham Stirk said in a media statement.

The price at the majority of Gull outlets remains 192.9c a litre for regular 91, 189.9c for Force 10 (98 Octane) and 136.9c for diesel.

Motorists have enjoyed as many as six price cuts since May.

The major outlets last cut petrol prices on June 25 when they took the price down 3c due to falling commodity prices and a strong New Zealand dollar. 

Those cuts meant motorists were paying 22c a litre less than the 218.9c petrol rose to in May.

Petrol prices were last consistently below $2 a litre in late 2010.

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- © Fairfax NZ News

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