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

 


AA Petrolwatch – March 2005

6 April 2005

AA Petrolwatch – March 2005

AA Petrolwatch has shown a continuing increase in pump prices during March as world oil prices moved ever upwards. Despite some indications that prices may have reached a peak, the price for the motorist at the pump is steadily climbing to an all time high.

Two increases during the month have taken the average nationwide pump price for 91 octane to 1.23.9c litre, with the differential for 96 and 98 octane ranging between 5c to 10c additional.

Once again there have been occasions during the month when one supplier has sought to move the price upwards. With the other suppliers not going with the increase, it has meant the increase was short-lived, although during the hours when the price had increased, some motorists bore the brunt of such pricing manoeuvres. The advice given over some months remains – make certain before filling up that the price at the particular pump is the best available, in that locality, at that time.

As the month ended, the increase in tax on petrol of 5 cents per litre plus GST, was to the forefront for many motorists as they took advantage of the lower price prevailing on 31 March, before the increase the next day to a pump price of $1.29.5c.

It is disappointing that all oil companies increased their pump prices by the 5 cents on 1 April, given that the tax increase takes some days to flow through to their costs from when the tax is imposed.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news