Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Mobil Oil raises petrol and diesel prices

Mobil Oil New Zealand will lift the wholesale price of petrol by 2 cents a litre and the price of diesel by 3 cents a litre, effective from midnight tonight, Mobil Oil New Zealand Country Manager, Alan Heng said today.

These increases are likely to be reflected in retail pump prices.

Today’s decision is the result of steep increases in finished product. These have increased by about $5 a barrel in the last two weeks.

“Mobil has resisted making this adjustment for as long as possible, but we have reluctantly decided to make this move today,” Mr Heng said.

“Current prices are no longer sustainable in the face of rising costs. Should the trend reverse, we would be glad to pass on savings to our customers.”

Mr Heng said that the recent recovery in the Kiwi dollar had helped to minimise the increase.

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>