Motorists Commend Falling Fuel Prices

Press Release

For Immediate Release 22 September 2003

Motorists Commend Falling Fuel Prices

The Automobile Association today commended recent moves by fuel companies to lower their prices at the pump, breaking a trend of price increases over recent weeks. This lowering of retail fuel prices appears to be in response to falling international oil prices.

According to AA Petrol Watch, the Association’s fuel price monitoring system, the average price of 91 Octane across New Zealand has now fallen to around 104 cents per litre, down on the nation-wide average for the earlier part of September of 108 cents per litre, and the average for the last week of August of 109.5 cents per litre. Prices for 96 Octane and Diesel fuels have also fallen across the country.

“The Association is pleased to see that fuel companies have promptly lowered prices at the pump, when the exchange rate remains strong and with the international oil price falling quite substantially” George Fairbairn, AA Director of Public Affairs said today.

The Association also reiterated its view that it continues to monitor prices, and is very aware that motorists are looking for fair prices and competition in the market place.

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