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Competition heats up for motorists’ petrol dollar

Media Release: 1 November 2006

AA PetrolWatch – October 2006

Competition heats up for motorists’ petrol dollar

Fuel prices remained steady throughout October, at $1.44 a litre for 91 octane petrol, and $1.04 a litre for diesel. It’s the first time since May that prices have remained unchanged.

“We’re pleased it’s been a calm period price-wise, as this makes it easier for motorists to budget their fuel costs, though we would prefer to see the downward price trend continue,” says Mike Noon, General Manager of Motoring Affairs.

“While there has been some small cost shifts up and down in both crude oil prices and the New Zealanddollar this month, overall the oil companies have been able to contain prices at the pump, which means less fluctuations for consumers,” Mr Noon added.

After the period of calm, competition amongst oil companies heated up in a big way, with Shell NZ announcing it was joining forces with Progressive Enterprises to offer fuel discounts for grocery purchases of more than $40 at any Woolworths, Foodtown or Countdown supermarket. The discount voucher scheme commenced on 30 October, with a 4 cent per litre saving on fuel purchases up to 100 litres – be it petrol, diesel or LPG. Shortly after, BP announced it would launch a similar scheme in November, in conjunction with Foodstuff’s New Worldand Pak ‘N Save stores.

“The AA welcomes this competition for motorists’ fuel dollars. The best price is the lowest price, and we’re pleased motorists now have more choices to get discounts at the pump,” says Mr Noon.

ends

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