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Petrol Price Rises

MEDIACOM-RELEASE-MOTOR-TRADE-ASSOC-INC

With the continuing rise in petrol prices currently being experienced by the New Zealand consumer, petrol retailers are facing the brunt of the public's frustration at increasing prices.

MTA Chief Executive, Stephen Matthews calls for the public to remember that service station operators are not to blame. "The petrol retailers and oil companies cannot be blamed for these increases", says Mr Matthews. "Once again, the contributing factors for these rises are out of the retailers' hands and include high crude oil and petrol prices, in addition to low exchange rates."

"It is important that the public understand this and not take their frustration out on our retailers. In a challenging industry, service station operators will once again be experiencing increased costs in obtaining stock and their margins will continue to be tight."

Mr Matthews suggests that the worst is not yet over. "I believe we are in for a bumpy ride with more price increases evident, at least until OPEC considers increasing their quota outputs," says Mr Matthews.

Ends...

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