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


November fuel prices at their lowest for 10 months

Media Release: 4 December 2006

PetrolWatch – November 2006

November fuel prices at their lowest for 10 months

Petrol and diesel prices were at their lowest in November since late December 2005, with 91 octane petrol retailing for $1.39 per litre throughout most of the month, and diesel selling for 99 cents per litre in the main centres.

The prices of both fuels were five cents per litre less than during October, thanks to a drop at the beginning of the month. Petrol prices, however, rose 4 cents per litre at the end of November, although diesel remained unchanged.

“We’re pleased motorists have benefited from steady pricing and increased competition from fuel discount coupons, although it’s disappointing that prices have recently risen again after several months of continued reductions,” says Mike Noon, AA General Manager of Motoring Affairs.

“While there has been some small decreases in crude oil prices this month, unfortunately the cost of refined product on the international market rose towards the end of November. The oil companies were able to hold prices for most of the month thanks to the stable exchange rate,” Mr Noon added.

In early November, the AA ran the very successful AA EnergyWise Rally with support from EECA and Gull NZ, during which the Minister of Energy announced plans for a vehicle fuel economy labelling scheme.

“Whether prices are rising or falling, it’s important that motorists have choices to make savings wherever they can, be it from supermarket discounts, fuel efficient driving or through buying fuel efficient vehicles.

“This is why the AA encourages people to purchase the most economic cars that meet their needs as a kind of insurance against volatile fuel prices. The AA believes the Government’s plan to introduce fuel economy labels on cars for retail sale will be one way of helping motorists make an informed choice, and we welcome their introduction as soon as possible,” says Mr Noon.


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>



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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news