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

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>